Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
CPI and Inflation
In country X a typical family of four buys an average of 177 loaves of bread and 63 sticks of butter each year. Concerned about increase in price of these essential goods the head of the family decides to make an index of these goods. The prices of these items are given in the accompanying table.
177 loaves of bread
2018 (base year) $1.35
2019 $1.47
2020 $1.82
63 sticks of butter
2018 $3.80
2019 $4.20
2020 $ 5.99
a. Using 2018 as a base year, create a CPI for these items for each year.
2018: CPI ______________
2019: CPI ______________
2020: CPI ______________
b. Calculate the inflation rate between years 2019 and 2020?
What price would firm set to maximize profit. Compute profit and Consumer Surplus.In diagram given above blue shaded region is consumer surplus and green shaded region is deadweight loss.
A 25-year-old engineer is opening an individual retirement account (IRA) at a bank. Her goal is to accumulate $1 million in the account by the time she retires
There are concerns about an increase in unemployment due to the slowdown in manufacturing. a) What effect would an increase in the unemployment rate have on the equilibrium wage?
The government of Alpha imposes a per-unit tax on Brureff soda. Given that Brureff may be relatively elastic demand or inelastic
If a monopolist must lower the price on all units in order to sell an additional unit, For a perfectly competitive firm,
q1. were past societies in human history more ecological than our society today? what is the most ecological society
A calculator company produces a scientific calculator and a graphing calculator. Because of limitations on production capacity, no more than 220 scientific and 180 graphing calculators can be made daily. To satisfy a shipping contract, a total of at ..
a. Now what is the expected loss? b. What is the maximum amount this individual is willing to pay for insurance against a heart attack? c. What is the risk premium?
Describe the social and economic repercussion of the following inventions: the typewriter, the jet airplane, television, penicillin. Which do you think is greater in each case - the social or the economic impact?
Midwest expects to begin using the warehouse again in 4 years. Another firm wants to lease the warehouse for 5 years with an option to renew.
Two firms, the Alliance Company and the Bangor Corporation, produce vision systems. The demand curve for vision systems is P = 200,000 - 6(Q1+ Q2) where P is the price (in dollars) of a vision system, Q1 is the number of vision systems produced and s..
You have made the decision to pursue higher education. Describe the economist's view of how a decision like that is made. Using marginal analysis
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd