The CPI in 2020 was 136.2 and the CPI in 2021 was 140.1. The rate of inf etween 2020 and 2021 was approximately 3.7% was approximately 2.7% was approximately 3.9% cannot be determined from this information because the base year is u was approximately 2.9%
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- In year 3, the GDP deflator is 136. The inflation rate between year 2 and year 3 is Quantity Quantity Product Price (Year 1) Price (Year 2) (Year 1) (Year 2) Cars 50 25 100 30 Homes 10 50 15 60 Cheeseburgers 100 5 150 Cheese 50 2 75 3 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 18.0% b 15.0% C 13.3% d 28.84%Use the information below to: a) compute the price index for each year using 2019 as the base year. b) compute the inflation rate between the two years. Item Quantity Unit Price-2018 Unit Price-2019 Coffee 20 pounds $7.00 $8.00 Rent 12 months 950.00 1,000.00 Pizza 100 pizzas 12.00 14.00 Cable 12 months 55.00 60.00 Vacation 2 weeks 550.00 600.00The average annual cost(tuition, fees, and room and board) at four-year private universities rose from $6,070in 1980 to $29,257 in 2004. Calculate the percentage rise in cost from 1980 to2004, and compare it to the overall rate of inflation as measured by the Consumer Price Index. The Consumer Price Index for 1980 is82.6and the Consumer Price index for 2004 is 188.9.The percentage rise in cost from 1980 to 2004 is %??(Round to the nearest tenth as needed.)
- The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Calculate the price index of a bundle containing 100 units of good X, 150 units of good Y, and 25 units of good Z in 2018, 2019, and 2020. Calculate the percentage change in index between 2018 and 2019 and again between 2019 and 2020. What is rate of inflation/deflation between 2019 and 2020? GOOD QUANTITY CONSUMED 2018 PRICES 2019 PRICES 2020 PRICES X 100 Rs. 10.00 Rs.10.50 Rs. 10.75 Y 150 Rs. 10.50 Rs. 20.00 Rs. 20.00 Z 25 Rs. 30.00 Rs. 30.25 Rs. 30.00 In each case of following cases, does the increase in prices affect CPI, GDP deflator, or both in Pakistan? Analyze and Justify your answer. (Maximum 150 words) The price of imported Belgian chocolate has increased. The price of imported equipment used in industrial level ice-cream production has…Suppose the inflation rate was 3% last year and is 1.5% this year. This means that Group of answer choices all prices rose 3% this year. on average, prices fell between last year and this year. on average, prices rose more slowly between last year and this year. all prices rose by 1.5% this year.Suppose the basket of goods used for a Canadian university student price index consists of 2 terms of full-time study and 4 textbooks. Prices of the goods by year are as follows: Year Full-time tuition for Price of One one term Textbook 2018 $3,605 $115 2019 $3,631 $139 2020 $3,924 $189 a) Using 2018 as the base year, compute the university student price index for 2018, 2019 and 2020, and the inflation rate between 2018 and 2019, and between 2019 and 2020. b) Suppose that all university textbooks were produced in the United States. Would Canada's GDP Deflator increase more, less or the same rate as the student price index (based only on these two goods)?
- Ansume that prices for the items below increaned at the average annual ratos shown in the table. Use the inflation proportion to find the missing price in the last column of the chart Average CPU 184.0 Year 2003 2017 245.1 Year Purchased 2003 Item Price Price in 2017 Evening dress $183 Complete the tuble Item Price Year Purchased Price in 2017 Evening dress (Round to the nearest dollar as needed) $183 2003 Enter your answer in the answer box.The rate of inflation for 2016 was 1.3%. Did the price of Seattle Seahawks tickets exceed the inflation rate? ExplainSeahawks tickets 2015: $84.60Seahawks tickets 2016: $88.20Calculate the GDP Deflator in year 2 from in the previous question (it turns out you should get 173). In year 3 you learn that it is 195. What is the inflation rate between year 2 and year 3? A 12.7% 22% 73% 95% D.
- The following table shows the typical market basket consumed in an economy as well as data on price for years 2001 to 2003. Use this table to calculate the inflation rate between 2001 and 2002. 2003 is the base year. Price in year Price in year Price in Year Items Quantities 2001 2002 2003 Pizza $10 $20 $0.50 $12 $25 $0.55 $11 $26 $1 10 T-shirts 10 Candy 100Suppose that before the end of the year a typical consumer purchased 125 apples, 60 bananas, and 85 oranges. Year 1 Year 2 Price of apple Price of banana Price of orange 2$ 0.75 $ 0.90 0.20 $ 0.45 0.25 $ 0.60 What is the inflation rate? (round to nearest whole number)2a. Compute the price index for each year. Use the first year as the base year. What was the inflationrate between the two years.Item Quantity Unit Price-Last Year Unit Price-This YearCoffee 20 pounds $3.00 $4.00Tuition 1 year 4,000.00 7,000.00Pizza 100 pizzas 8.00 10.00VCR rental 75 days 15.00 10.00Vacation 2 weeks 300.00 500.00