Questions 14-15 are a set of questions. Here is the table for the questions.Will's expenditures on food for three consecutive years, along with other values, are presentedin the table below.Year20092010 2011Expenditures on Food$5,000$5,800 $6,600Consumer Price Index 160.0 168.0X14. Refer to the above Table. Suppose Will's 2010 food expenditures in 2011dollars amount to $6,235. Then x, the consumer price index for 2011, has a valueofO(A) 171.2.(B) 175.0.O (C) 177.5.(D) 180.6.15. Refer to the above Table. Suppose Will's 2009 food expenditures in 2011dollars amount to $5,670. Then(A) the consumer price index was 11.8 percent higher in 2011 than it was in 2009.(B) the inflation rate in 2011 was 8 percent.O(C) Will's 2011 food expenditures in 2009 dollars amount to $5,740.(D) Will's 2010 food expenditures in 2011 dollars amount to $6,210.* 3 points* 3 points

The objective of this question is to find the value of the Consumer Price Index (CPI) for the year…

Answered: Questions 14-15 are a set of questions.…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.2P

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Consider the following NIPA data for 1Q2021 (First Quarter 20210 $ billlion) Investment: Non Residential $2,948.3 Exports $2,305.3 PCE Goods $5,183.5 Investment: Residential $1,043.7 Government Expendiures Federal $1,557.0 PCE Services $9,857.7 Imports $3,152.3 Governemnt Expenditures : State and local Goernent Expenditures $2,395.9 Change in private inventories -$90.1 1. Write the formula for GDP Compute the following: 2. Personal Consumption Expenditures (PCE): 3. Gross Private Domestic Investment (GPDI) 4. Net Exports (NX) 5. Government Expenditures (GOV) 6. GDP
Consider the following NIPA data for 1Q2021 (First Quarter 20210 $ billlion) Investment: Non Residential $2,948.3 Exports $2,305.3 PCE Goods $5,183.5 Investment: Residential $1,043.7 Government Expendiures Federal $1,557.0 PCE Services $9,857.7 Imports $3,152.3 Governemnt Expenditures : State and local Goernent Expenditures $2,395.9 Change in private inventories -$90.1 2a. Compute the weights of each of PCE, GPDI, NX and GOV) in GDP 2b. Consider the following rates of change (%) for each of the above items. % change PCE 10.70% GPDI -5.00% NX -6.80% GOV 6.30%
The table below shows the amount of savings and borrowing in a market for loans to purchase homes, measured in millions of dollars, at various interest rates. InterestRate QuantitySupplied QuantityDemanded5% 98 2216% 129 1917% 160 1608% 178 1429% 196 12410% 214 106 What is the equilibrium interest rate and quantity of loaned funds? r = % Q = Suppose there is a decrease in demand of money, what will happen to interest rates and quantity? Increase in Interest Rates, Increase in Quantity?Increase in Interest Rates, Decrease in Quantity?Decrease in Interest Rates, Increase in Quantity?Decrease in Interest Rates, Decrease in Quantity?
Will's expenditures on food for three consecutive years, along with other values, are presented in the table below. Year 2009 2010 2011 Expenditures on Food $5,000 $5,800 $6,600 Consumer Price Index 160.0 168.0 Refer to Table above. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,750. Then x, the consumer price index for 2011, has a value of Select one: O a 183.7 Ob. 185.8 Oc. 189.4 d. 187.5 Clear my choice
Please give a detailed solution with an explanation. Please double-check your sources and make sure the answer is 100% correct. Make sure all questions are answered too.Blank Answer #1:value of all goods and services produced in the economy in the base yearcost of a given market basket of goods and servicesvalue of all goods and services produced in the economy this yearBlank Answer #2:this year's pricesthe base year's pricesBlank Answer #3:value of all goods and services produced in the economy in the base yearcost of a given market basket of goods and servicesvalue of all goods and services produced in the economy this yearBlank Answer #4:this year's pricesthe base year's pricesBlank Answer #5:produced domesticallybought by consumers
.In a particular very small region, the consumer price index, C, depends on the current value of gross regional domestic expenditure E, number of people living in poverty P, and the average number of houschold members in a family F, by the following formula: e EP C = 100 + F If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of household members in a family are increasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, and F = 5?
In a finance class, the purchase of stock in a company would tend to be labelled “investment,” but the word investment is used different in macroeconomics. Give an example of an investment good as a macroeconomist would use the word investment, and explain why investment is important for the long term health of an economy
6 05:09 12:07 AM.. 51.8KB/s, 0 VPN talll 3 73) = Chegg Time remaining: 00:09:56 Economics In the budget presented by the Government, far reaching tax rebates are provided to all classes of tax payers. A researcher therefore conducts survey to examine whether these tax reductions have led to a change in the consumption patterns of various social classes in the country. What kind of study would this fall under. Explain your answer Answer Skip Exit
III. In a particular very small region, the consumer price index, C, depends on the current valuc of gross regional domcstic expenditure E, number of people living in poverty P, and the average number of household members in a family F, by the following formula: 3 e-Ep C = 100 + F If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of household members in a family are increasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, and F = 5?
Say you define your permanent income as the average income this and the past 4 years’ incomes and you always consume 4/5 of your permanent income. Your earnings record over these years has been: Yt = 40,000 Yt-1 = 38,000 Yt-2 = 34,000 Yt-3 = 32,000 Yt-4 = 31,000 If next year your income increases to Yt+1 = 46,000 by how much will your consumption change between year t and year t+1?
A B C E K L M N A common perception is that airline profits are strongly correlated with the price of oil. The Following are annual net incomes of American Airlines together with the approximate price of oil in the period 2005-2010: 3 a. Populate the table American Net Income (S million) (y) Barrel Oil ($) Year ху (x) 4. 5. 1 2005 56 -850 6 2006 63 250 7. 3 2007 67 450 8. 4 2008 92 -2100 2009 54 -1450 10 6. 2010 71 -700 11 12 13 14 b. What is Ex? 15 16 c. What is Ey 17 18 d. What is n? 19 20 e. What is Exy 21 22 £. What is (Ex²) 23 24 g. What is (Ex) 25 26 h. Obtain a regression line (obtain the coefficients) showing American's net income as a function of the price of oil 27 28 29 30 31 32 i. Obtain the coefficient of correlation r 33 34 35 Use the data analysis tool in Excel to obtain the coefficients in part 1(h). Copy and Paste your regression output 37 below. 36 38 39
Two years ago, Adrienne and William earned $90,450 and paid $10,854 in income tax. Last year, the couple earned $97,770 and paid $15,632 In Income tax. a. Which of the following statements is true regarding the tax payments? O The actual tax payment was higher last year and the couple's disposable income was smaller. O Both the actual tax payment and the tax rate were higher last year than in the previous year. The actual tax payment was higher last year, but the tax rates were the same. O The actual tax payment was higher last year, but the tax rates cannot be computed without more Information. b. This example illustrates O the stabilizing properties of the U.S. tax system. O increased Income requires new tax policy to prevent Inflation. O households with higher income pay a smaller percentage of their Income in taxes. O taxes are too high.

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