The CPI in Canada in 2015.

Question

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Answer 1

Question

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

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In Canada, the reference base period for the CPI is 2002. By 2017, prices had risen by 29.9 percent since the base period. The inflation rate in Canada in 2018 was 2.1 percent. Calculate the CPI in Canada in 2018. The CPI in Canada in 2018 is. >>> Answer to 1 decimal place.

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Answer 2

Question

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

Answer 6

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

Answer 7

Chapter 23, Problem 1SPPA

To determine

To calculate:

The CPI in Canada in 2015.

Answer 8

Expert Solution & Answer

Explanation of Solution

The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).

I=CPI 1−CPI 2CPI 1×100

Substituting the values,

1.1%=x−25.2%25.2%×1001.1%×25.2%=(x−25.2%)×10027.72=100x−252027.72+2520=100x

2547.72100=100x10025.48%=x

Therefore, the CPI in 2015 is 25.8%.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Consumer price index:

Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.

Answer 12

Ch. 23 - Prob. 1SPPA Ch. 23 - Prob. 2SPPA Ch. 23 - Prob. 3SPPA Ch. 23 - Prob. 4SPPA Ch. 23 - Prob. 5SPPA Ch. 23 - Prob. 6SPPA Ch. 23 - Prob. 7SPPA Ch. 23 - Prob. 8SPPA Ch. 23 - Prob. 9SPPA Ch. 23 - Prob. 10SPPA

The CPI in Canada in 2015.

To calculate: The CPI in Canada in 2015.

Explanation of Solution

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Chapter 23 Solutions

To calculate:

The CPI in Canada in 2015.