2009 2010 2011 ditures on Food $5.000 $5.800 $6.600 mer Price Index 160.0 168.0 o 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 one: 183.7 185.8 189.4 1875
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- 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 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 X 14. Refer to the above Table. Suppose Will's 2010 food expenditures in 2011 dollars amount to $6,235. Then x, the consumer price index for 2011, has a value of O(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 2011 dollars 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 pointsQuestions 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 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 X 14. Refer to the above Table. Suppose Will's 2010 food expenditures in 2011 dollars amount to $6,235. Then x, the consumer price index for 2011, has a value of (A) 171.2. (B) 175.0. (C) 177.5. (D) 180.6. 15. Refer to the above Table. Suppose Will's 2009 food expenditures in 2011 dollars 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. (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 pointsThe table below shows the total expenditure on a basket of goods and services. Use this information to calculate index numbers for the cost of a basket of goods and services in each period. Assume Period 1 is the base year. Round to one decimal place. Provide your answer below: Period 1 Period 2 Period 3 Period 4 Total Expenditure $1,100 $1,350 $1,400 $1,450 Period 1 Period 2-Period 3 = Period 4 = | Index Number
- The table below shows the total expenditure on a basket of goods and services; use this information to calculate the index number for the cost of a basket of goods and services in period 1, assuming Period 2 is the base year. (Round to 1 decimal place.) Total Expenditure Index Number 22. Period 1 $1,020 Period 2 $1,475The table below shows the total expenditure on a basket of goods and services. Use this information to calculate index numbers for the cost of a basket of goods and services in each period. Assume Period 3 is the base year. Round to one decimal place. Provide your answer below: Period 1 Period 2 Period 3 Period 4 Total Expenditure $3, 100 $3,350 $3,400 $3,450 Period 1 Period 2= Period 3 Period 4 Index NumberThe table below shows the total expenditure on a basket of goods and services; use this information to calculate the index number for the cost of a basket of goods and services in periods 1, 2 and 4, assuming Period 3 is the base year. Write the index numbers in order from Period 1 to Period 4. (Round to 1 decimal place. Include the index number for period 3 in your answer.) Provide your answer below: Period 1 Period 2 Period 3 Period 4 Total Expenditure $12, 240 $12,900 $13,530 $14,250 Index Number
- The Bureau of Labor Statistics has found that the base-year expenditures of the typical consumer break down as follows: Food and beverages Housing Apparel and upkeep Transportation Medical care Entertainment Other goods, and services Total 17.8% 42.8% 6.3% 17.2% 5.7% 4.4% 5.8% 100.0% Suppose that since the base year, the prices of food and beverages have increased by 2 percent, the price of housing has increased by 4 percent, and the price of medical care has increased by 6 percent. Other prices are unchanged. Instructions: Enter your responses by rounding the CPI to three decimal places. The CPI for the current year isQ7; Which of the following is the name used to describe the price index that consists of intermediate goods and finished goods? a) producer Price Index b) consumer Price Index c) employment Cost Index d) processing Price IndexTable 25-4 Adam's expenditures on food for three consecutive years, along with other values, are presented in the following table. Expenditures on food Consumer price index 1 $9,623. $8,604. $157.9. $9,101. Year 2 3 $9,000 $9,200 $10,200 130 139 x Refer to Table 25-4. Suppose the consumer price index is 7.5 percent higher in Year 3 than in Year 1. Then Adam's food expenditures for Year 2 in Year 3 dollars amount to
- From the press release of the statistics of Retail Sales for January 2021, a government spokesman said that, “The figure for January was conceivably distorted by the difference in timing of the Lunar New Year, which fell in mid-February this year but late January last year.” Explain the rationale of this statement. Is the year-on-year percentage change of retail sales for January 2021 expected to be higher or lower than usual?Suppose that in the year 2015, Oceanaire, Inc. planned to produce 525,000 units of its lightweight scuba tanks. Of the 525,000 it planned to produce, a total of 35,000 units would be added to the inventory at its new plant in Arizona. Also assume that these units have been selling at a price of $225 each and that the price has been constant over time. Suppose further that this year the firm built a new plant for $6 million and acquired $3.0 million worth of equipment. It had no other investment projects, and to avoid complications, assume no depreciation. Now suppose that at the end of the year, Oceanaire had produced 525,000 units but had only sold 485,000 units and that inventories now contained 40,000 units more than they had at the beginning of the year. At $225 each, that means that the firm added $9,000,000 in new inventory. This year Oceanaire actually invested $. (Enter your response as an integer.) Oceanaire planned to invest $(Enter your response as an integer.) Oceanaire…1. Given ln Qda = 2.35 – 0.12 ln Pa - 0. 25 ln Y + 0.18 ln Pb – 0.26 ln Pc, (all in logarithmic form), which of the following is correct? Note: Qda is the quantity demanded for product “a”, Pa is the price of product “a”, Pb is the price of product “b”, Pc is the price of product “c” and Y is the income, ln means natural logarithm. A. the demand for product “a” is price inelastic B. the demand for product “a” is price elastic C. a 1% increase in the Pa will cause a 0.12% decrease in the demand for product “a” D. A and C are correct E. B and C are correct 2. Given: ln Qda = 2.35 – 0.12 ln Pa - 0. 25 ln Y + 0.18 ln Pb – 0.26 ln Pc, (all in logarithmic form), which of the following is correct? The definition of the variables are found in #1. A. product “a” and product “b” are substitutes B. product “a” and product “b” are complementary C. a 1% increase in the Pb will increase the demand for “a” by 0.18% D. A and C are correct E. B and C are correct 3. Given: ln Qda = 2.35 – 0.12 ln Pa…