What is the value of consumer price index

Reference no: EM131789119

Question: Part 1: Suppose that the consumers buy 5 apples and 3 oranges every year (basket of goods), and the price of each one was showed as the following:

	2014	2015	2016
Apple	$2	$3	$4
Orange	$3	$4	$5

If we considered 2014 is the base year, then:

1- What is the value of Consumer Price Index (CPI) at 2014, 2015, and 2016?

2- What is the Inflation Rate at, 2015, and 2016?

3- In your opinion, how the inflation effects on the economic activities.

Part 2: Suppose, that the Bureau of Labor Statistics issued statistics about the adult population and labor as the following:

Adult Population: 20 million, Labor- Force: 13 million, Employed Worker: 11.8 million, then:

1- What is the number of unemployed?

2- What is the Unemployment Rate?

3- What is the Labor- Force participation Rate?

4- How can the Government reduce the effects of Unemployment Rate?

Note : kindly answer the questions computerized

Reference no: EM131789119

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