User Account

All Pages

What is the cpi relative to 2007 as the base year

Assignment Help Macroeconomics
Reference no: EM13335821

You shop for groceries in 2007 and buy $300 of food. Two years later, in 2009, you buy an identical “market basket” of groceries, only this time it cost $318. What is the CPI relative to 2007 as the base year? Show calculations.

Reference no: EM13335821

Questions Cloud

Please use the supply and demand diagram for the milk market : Currently the state of ohio imposes no sales tax on food products in grocery stores. Suppose that the government passed a bill to impose a $0.6 sales tax for each gallon of milk on consumers.
Calculate the change in the level of real gdp demanded : Assume that government purchases decrease by $10 billion, with other factors held constant, including the price level. Calculate the change in the level of real GDP demanded for each of the following values of the MPC
How might the government respond to correct this market fail : Suppose production of this good provides an external benefit of $10 for each unit produced. What is the efficient quantity in this market? How might the government respond to correct this market failure?
Do you see any conflicts in a goods-producing versus service : A company is trying to provide goods and services to customers in a balanced customer benefit package CPB. Do you see any conflicts in a goods-producing versus service-providing way of thinking? Illustrate with examples.
What is the cpi relative to 2007 as the base year : You shop for groceries in 2007 and buy $300 of food. Two years later, in 2009, you buy an identical “market basket” of groceries, only this time it cost $318. What is the CPI relative to 2007 as the base year? Show calculations.
What effects would this philosophy have on the size of the : Some states are required to balance their budgets. Is this measure stabilizing or destabilizing? Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession.
Why are common property resources subject to market failure : What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to nonexcludability?
Explain what would happen in the market for chicken : Explain what would happen in the market for chicken if the price of beef suddenly increased and remained high. Use supply and demand analysis in your answer and consider the elasticity of demand and the cross-price elasticity of demand in your answer..
Briefly explain the principal-agent problem and moral hazard : Insurance companies must provide insurance to drivers who may take risks that go unreported because they don’t wreck or get ticketed (or if they do wreck or get ticketed, it goes unreported to the insurance company). Briefly explain the principal-age..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Elucidate the price should you charge for a midsized

Elucidate the price should you charge for a midsized automobile if you expect to maintain your record sales.

  Issues related to health insurance

What are primarily intended to address the problem of insuring people who do not have health insurance? Would a public national health insurance system reduce total spending on health care in our economy?

  Energy efficiency and economic efficiency

Engineers at the national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of unleaded gasoline.

  Macroeconomic analysis to determine effect rising oil prices

Since fall of 2004, increasing oil prices over $70 per barrel in spring of 2006 have frequently ended stock market rallies and led to refuse in all major stock indexes.

  Describe the development of the international space station

Take a stand on whether or not economic growth really makes people better off in the long term. Provide support for your response. Give your opinion on whether or not the development of the International Space Station stimulated economic growth. J..

  Contrast this with a second case in which micro factors play

In recent business publications, find case study in which changes in the maco enviroment play a major role in influencing a firm's competitive strategy. Contrast this with a second case in which micro factors play a more important role.

  Which two determinates currently have the greatest impact on

In your opinion, which two determinates currently have the greatest impact on aggregate demand and supply? Justify your response with an example.

  Two futures contracts on the same commodity with times

Where r is the interest rate (assumed constant) and there are no storage costs. For the purposes of this problem, assume that a futures contract is the same as a forward contract.

  Describe what is a government budget deficit

What is a government budget deficit How does a federal budget deficit affect the economy How does it affect the level of investment and interest rates How does it affect the individual consumer

  Explain law to affect the average quality of teachers

Suppose a new law establishes a minimum teacher salary that is 20 percent higher than the prevailing salary. How would you expect this law to affect the average quality of teachers and the taxes paid by the typical household?

  Create and interpret a lorenz particular level of total

Suppose that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, $125, $75, and $50, respectively. Create and interpret a Lorenz particular level of total income.

  Determine market efficiency cause price equals average cost

The equality of P and MC means the firm is achieving allocative efficiency since the industry is producing the amount of product that equates society's valuation of that product and the price of the product.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd