Assume that residents of greenland play golf incessantly in

Assignment Help Microeconomics

Reference no: EM13451850

Suppose that the residents of Greenland play golf incessantly. In fact, golf is the only thing that they spend their money on. They buy golf balls, clubs, and tees. In 2010, they bought 1,000 golf balls for $2.00 each, 100 clubs for $50.00 each, and 500 tees for $0.10 each. In 2011 they bought 1, 100 golf balls for $2.50 each, 75 clubs for $75.00 each, and 1,000 tees for $0.12 each.

What was the CPI for each year?

What was the inflation rate in 2011?

Reference no: EM13451850

Questions Cloud

Manufacturing and distributing simple wooden toys for : manufacturing and distributing simple wooden toys for children that you sell to small boutiques on terms of payment in

Write down the impacts of government and market : according to the law of demand if price increases quantity demanded of a good or service will decrease or vice versa.

What may be the five key pieces of information that you : 1.what are some of the potential hazards a company might face by relying too heavily on distributors retailers or other

More manufacturers are using new technologies to move : question 1more manufacturers are using new technologies to move toward mass customization in their product offerings.

Assume that residents of greenland play golf incessantly in : suppose that the residents of greenland play golf incessantly. in fact golf is the only thing that they spend their

Veronica company allocates overhead costs to jobs on basis : veronica company allocates overhead costs to jobs on the basis of direct labor-hours. its estimated average monthly

For many organizations relationship marketing is more : question 1the internet has allowed many companies to shift sales support for small accounts to e-commerce sites and

Compute the overhead rate set at the beginning of the year : ipx is a specialized packaging company that packages other manufacturers products. other manufacturers ship their

What would occur to employment and unemployment numbers if : what would happen to employment and unemployment numbers if an increasing number of retired persons decided to set up

User Account

All Pages