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Commodity Market Basket Quantity 2001 price 2002 price
RICE 30LBS $3.00 $3.60
APPLES 25LBS $3.50 $3.75
Assuming that 2001 is the base year. what is the price index for 2002?
In 2002, the price index is _____. ( round your answer to two decimal places).
The inflation rate between 2001 and 2002 is ___%( round your answer to two decimal places).
There is a 0.5 probability that Joe will make it. What is the probability that either mark or Joe will make it?
The European Coal and Steal Community (ECSC) is always discussed as the beginning of the rule of law in Europe. What is exactly meant by that expression? Please discuss the principle of double majority in the EU. Why is the voting principle so fundam..
Let E = En + Ei denote the total size of the labor force, where En and Ei represent native-born workers and immigrants, respectively (measured in thousands). Suppose that initially there is no immigration at all: Ei =0. What is the equilibrium wage a..
Government could address the problem with increasing government spending, cutting taxes, or both. If the government decided to increase spending to address the problem, by how much should spending be increased? What could happen to make the policy y..
Why annual worth can solve the problem between two alternative directly even they have different years while the present worth and future worth, you must unify the useful life between two alternative method?
Can the government rely on seignorage to finance an ever-increasing fiscal deficit? Explain why or why not. Use the appropriate graphs to illustrate your answer.
Consider Bertrand competition with homogeneous products. Two firms, 1 and 2, produce an identical product and compete by choosing price. Consumers buy from the firm with the lower price. Write out the best response function of firm 1 for any price th..
Discuss why firms are attracted to foreign markets, for example, to increase profits and revenues and to gain access to cheaper manufacturing. How may this affect the domestic country of the firm?
Suppose a central bank has increased its nation's nominal money supply considerably for several years in a row, but without any increase in inflation. Over the same time, suppose its economy has not grown. Given this information, explain why this mon..
A new Pizza Restaurant has opened in Old Town Fort Collins: Daenerys’ Fire Baked Pizza. They offer brick oven pizzas, sit down dinner, take out, and a new service: delivery by drone, which guarantees the product to reach its destination in less than ..
Use separate graphs to sketch two indifference curves for people with each of the following utility functions.
Assume Arturo is willing to trade 6 burritos to Dina for each 10 tacos which Dina produces also send to Arturo.
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