Calculate the consumer price index and the inflation rate

Assignment Help Business Economics

Reference no: EM13886742

Use the information below to calculate the Consumer Price Index and the inflation rate. The base year is 1975.

Market basket quantity 1975 prices 1976 prices

Dozen eggs 21 1.10 1.30

Calculator 12 14.50 15.50

Microwave 5 180 180

Consumer price index of 1975? Consumer price index 1976? Inflation rate for 1976?

Reference no: EM13886742

Questions Cloud

Standard unqualified report for a non public entity : 1.Compare the wording in the standard unqualified report for a non public entity under AICPA auditing standards in Figure.

What is the general formula for their family of isoquants : Suppose that Noah and Naomi’s weekly production function is F (L, K) = 10L + K, where L is the number of assembly workers (labor) and K is garage space (capital). What is the general formula for their family of isoquants?

Calculate price elasticity of demand for movie tickets : Calculate price elasticity of demand for movie tickets if demand for movie tickets increases from 220 tickets to 290 tickets with the decrease in price from $12.50 a ticket to $8.50 a ticket.

What alternative courses of action are available to auditor : If the upper limit of deviation exceeds the tolerable deviation rate in attributes sampling, what alternative courses of action are available to the auditor?

Calculate the consumer price index and the inflation rate : Use the information below to calculate the Consumer Price Index and the inflation rate. The base year is 1975.

Find a formula for her labor supply curve : Sheryl spends all her leisure time and all her money on sailing. She doesn’t value leisure time if she can’t sail, and she can only sail if she has leisure time. How many hours will she work if she earns $20 per hour? Find a formula for her labor sup..

Decides to impose pigovian tax on pollution in community : The Fireyear and Goodstone Rubber Companies are two firms located in the rubber capital of the world. These factories produce finished rubber and sell that rubber into a highly competitive world market at the fixed price of £60 per ton. In the absenc..

Determine the upper limit of deviation for each of controls : Determine the upper limit of deviation for each of the controls. What impact do these results have on the type of opinion to be given on the client's internal controls?

Primary auditor responsible for the opinion : 1.Describe what is meant by reports involving the use of other auditors.

User Account

All Pages