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!
In this exercise you are asked to compute the inflation rate according to the Consumer Price Index. Imagine that a country produce four goods: Apples, Oranges, Rice, and Space Satellites. A basket of goods of the typical average family is 10 kg. apples, 20 kg. of oranges, and 50 kg. of rice. The economy is closed. Below you can find the quantity and prices of goods produce in this economy the year 2010, 2011, 2012 for this economy. The number in parenthesis refer to (price, quantity).
Assume that 2010 is the base year. Compute.
1. The Consumer Price Index for the year 2010, 2011, 2012
2. The inflation rate between 2010 and 2011 and between 2011 and 2012. Using the above information the two inflation rates are 18.75% and 15.78%
3. Do you think the inflation rate has overestimated or underestimated the inflation rate in any of the years? Explain
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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