xplain in detail what this m in terms of the changes in the real wage and purchasing power of the income ,

The federal minimum wage in 1991 was $4.25.  The value of the CPI in 1991 was 136.2  The value of the CPI in 2018 was 251.107.  The federal minimum wage in 2018 was $7.25.   Round your answers to two decimal places. The real value of the minimum wage in 1991 measured in base year dollars was $  .  The real value of the minimum wage in 1991 measured in 2018 dollars was $  .  Minimum wage workers were better off in 1991 than they were in 2018.  Enter T for true or F for false.

3.2 The table below lists the actual minimum wage and CPI in 1974 and in 2017. Using the table, calculate the real minimum wage for 1974 and 2017. Are workers better off in terms of the purchasing power of a dollar in 1974 or 2017? Explain why Year Nominal Minimum CPI Wage 2.00 7.25 (1982=100) 49.3 1974 2017 244.3

The table below lists hypothetical CPI and wage values for the United States from different decades. a. Complete the table by computing the real income for each year shown in the table. Instructions: Round your answers to 2 decimal places. Nominal and Real Income Averago Nominal Wage (dollars) Averago Roal Wage dollar Ycar CPI 1967 $7 278 34.6 1977 14.019 62.2 1987 27.006 117.2 1997 38,535 166.1 2007 51, 104 213.7 2013 54,017 240.6 Instructions: Enter the year using all four numbers (yyyy). b. Of the years listed above, the paycheck of the average worker was highest in c. Of the years listed above, the purchasing power of the average worker was highest in

Month CPI January 281.93 February 284.18 March 287.71 April 288.66 The minimum wage was $1.60 in 1968. The CPI in December of 1968 was 35.6 and we have the data above for CPI values in 2022.  What is the value of the 1968 minimum wage in April 2022 terms? Round your answer to two digits after the decimal without the dollar sign. Make sure you are using the correct base period.

K The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following year. Product Pizza Base Year (Year 1) Quantity Price in the Price in Base Year Year 2 20 $2.50 $3.13 T-Shirts 4 $10.00 $9.00 Rent 1 $450.00 $495.00 In Year 1, the CPI for the economy is (Round both answers to one decimal place.) In Year 2, the CPI for this economy is

Please dont answer Question 1. Just the scenario for Question 2. Computing the CPI: 1. The table below shows a hypothetical typical consumer’s market basket that consists of 10 units of beef and 20 units of chicken. Year        Price of Beef                                   Price of Chicken 2018                $4                                                     $4 2019                $5                                                     $5 2020               $9                                                     $6   A. Compute the CPI in 2019. B. What is the CPI inflation rate from 2019-2020? CPI vs. GDP deflator:     2. In each scenario, determine the effects on the CPI and the GDP deflator: A. Starbucks raises the price of Frappuccino (assuming Frappuccino is in the CPI basket). B. Caterpillar raises the price of the industrial tractors it manufactures at its Illinois factory. C. Armani raises the price of the Italian jeans it sells in the U.S. (assuming this good is included…

In 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. What is the inflation rate in 2020? The inflation rate in 2020 is OA. 148.1 B. 2.1 C. 80.0 D. 48.1 percent. C Item Books Pens 2019 2020 Price Quantity Price Quantity $6 4 $5 8 $5 6 $10 5

Given the below information, find Consumer Price Index CPI for all four months. Find the percent rate of change in CPI from the first month to the second month, then from the second month to the third month, then from the third month to the fourth month. Using the percent rate of change from the third month to the fourth month  find how long it will take for the CPI to double. Show all work and take all steps.                                               Shirt       Shoes          Car         TV      Month 1                           27             23             37,000     330   Month 2                           28             24             37,300     370 Month 3                           29             26             37,600     400 Month 4                           30              27             37,900    430

The table below represents the goods that are produced by Siri bread and water are used by the citizens of the city half of all plows are used by the city Council while the rest are used by citizens metal is used to produce plows and Nothing More when necessary use 2013 as the base year the typical consumer buys 10 bread 100 water and two plows.a. Calculate the basket cost for all the years b. Calculate the CPI for all years c. Packet of information for all the adjacent years