Find the cpi in the subsequent year

Reference no: EM13188212

Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows:

25 pizzas at $10 each
Rent of apartment, $600 per month
Gasoline and car maintenance, $100
Phone service (basic service plus 10 long-distance calls), $50

In the year following the base year, the survey takers determine that pizzas have risen to $11 each, apartment rent is $700, gasoline and maintenance have risen to $120, and phone service has dropped in price to $40.

a) Find the CPI in the subsequent year and the rate of inflation between the base year and the subsequent year.

Reference no: EM13188212

Questions Cloud

What level of q maximizes net benefits : Suppose the total benefit derived from a given decision, Q, is B(Q) = 25Q - Q^2 and the corresponding total cost is C(Q) = 5 + Q^2, so that MB(Q) = 25 -2Q and MC(Q) = 2Q. What level of Q maximizes net benefits

What is the probability that a yellow marble was chosen : What is the probability that a yellow marble was chosen, if it is known that Urn 2 was chosen?

What model would you use for this estimation : One of the most difficult aspects of planning software development is estimating the effort. Often times we are asked to provide the estimate early in the process and even before all requirements are known.

What is the probability that a green marble was chosen : What is the probability that a green marble was chosen?

Find the cpi in the subsequent year : In the year following the base year, the survey takers determine that pizzas have risen to $11 each, apartment rent is $700, gasoline and maintenance have risen to $120, and phone service has dropped in price to $40. a) Find the CPI in the subsequ..

State sodium acetate to semicarbazide : preparing semicarbazone derivatives, what is the purpose of adding sodium acetate to semicarbazide hydrochloride?

Make a line plot showing a data set that fits this household : A group of nine students has a mean of 3.5 people per . Make a line plot showing a data set that fits this household.

Derive the residual demand curve : In the model of a dominant firm, assume that the fringe supply curve is given by Q = -1 +0.2P, where P is market price and Q is output. Demand is given by Q = 11-P. What will price and output be if there is no dominant firm Now assume that there is..

How much will be in the account after 60 years : suppose a dollar placed into an account triples every 12 years. How much will be in the account after 60 years?

User Account

All Pages