Suppose that nominal income is $5,000 and the CPI is 115. Real income is equal to $43. (Round off your answer to the nearest whole number.)

Suppose the Consumer Price Index in 2016 is 127.1 with 2002 as the base year a) What is the purchasing power of the dollar compared to 2002 b)   What is the real income relative to 2002 of person whose income was $72500

The data in the table below show the consumption by families in an economy. The year 2018 is the reference base period.   Item Quantity​ (2018) Price​ (2018) Quantity​ (2019) Price​ (2019) Magazines 400 ​$5.00 450 ​$4.50 Movie tickets 50 ​$6.00 200 ​$8.00 Pizzas 100 ​$10.00 120 ​$10.50   Based on the table​ above, the CPI for 2019 is Part 2   A. 102.5.   B. 100.   C. 105.1.   D. 5.0 percent.   E. 98.5

On January 1, 2012, Albert invested $2,000 at 5 percent interest per year for three years. The CPI (times 100) on January 1, 2012, stood at 100. On January 1, 2013, the CPI was 106; on January 1, 2014, it was 112; and on January 1, 2015, the day Albert's investment matured, the CPI was 117. Find the real rate of interest earned by Albert in each of the three years and his total real return over the three-year period. Assume that interest earnings are reinvested each year and themselves earn interest. Hint: Calculate inflation and real interest for each year and then calculate it for the three years as a whole. Instructions: Enter your responses rounded to one decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year 2012 2013 2014 Real rate of interest Total real rate of return: -1% % % %.

Between 1927 and 1977, the average wage in Mistania increased from $13:50 to $24.50. During that same time, Mistanias CPI increased from 100 to 195. Calculate the percentage change in the real wage rate in Mistania between 1927 and 1977.

The consumer price index for selected years is shown in the following table. Year CPI Year CPI 2017 245.168 2013 232.957 2016 240.008 2012 229.594 2015 237.017 2011 224.939 2014 236.736 2010 218.056 Suppose Lois's salary in 2010 was $52,000, $57,000 in 2014, and $65,000 in 2016. Using the values of the CPI from the table, find her salaries in constant 2015 dollars. (Round your answers to the nearest cent.) $52,000 2015 dollars $57,000 $65,000 2015 dollars 2015 dollars

One difference between the CPI and the GDP deflator is      CPI uses a fixed basket, Deflator uses current production quantities     CPI use current production quantities, Deflator uses a fixed basket of goods     CPI measures price changes for consumer goods only, GDP deflator measures price changes for producer goods only     CPI excludes imported goods while the deflator does not

am. 279.

In compiling data for the CPI, the Bureau of Labor Statistics makes no attempt to adjust the data to reflect quality changes.” True or false? Explain.

Income in year 1 : 50,000 income in year 2: 60,000 CPI in year 1 = 100 CPI in year 2 =110 what is the percentage increase in nominal income?