1. Refer to the information in the table. Using 2001 as the base year, Compute CPIin 2003 *1452551832202. Refer to the information in the table. Compute the percentage change in CPIbetween 2001 and 2003 *120%83%Table 1Sami spent all his income in 2001 and 2003 on the following market basket:2001(Base year)Quantity20002003PriceQuantity1250ItemPriceFood$1$2$1500$80Housing4$5003|Clothing40$5050155453. Refer to the information in the table. Sami's nominal income in 2001 is equalto_11,00013,2006,0002,0444. Refer to the information in the table, Sami's real income in 2003 is equalto5,0001,3036,00011,000

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1. Refer to the information in the table. Using 2001 as the base year, Compute CPI in 2003 * 145 255 183 220 2. Refer to the information in the table. Compute the percentage change in CPI between 2001 and 2003 * 120% 83% Table 1 Sami spent all his income in 2001 and 2003 on the following market basket: 2001(Base year) Price 2003 Item Quantity Quantity Price Food Housing Clothing 2000 $1 1250 $2 4 $500 $1500 40 $50 50 $80 155 45 3. Refer to the information in the table. Sami's nominal income in 2001 is equal to 11,000 13,200 6,000 2044

1. Refer to the information in the table. Using 2001 as the base year, Compute CPI in 2003 * 145 255 183 220 2. Refer to the information in the table. Compute the percentage change in CPI between 2001 and 2003 * 120% 83% Table 1 Sami spent all his income in 2001 and 2003 on the following market basket: 2001(Base year) Price 2003 Item Quantity Quantity Price Food Housing Clothing 2000 $1 1250 $2 4 $500 $1500 40 $50 50 $80 155 45 3. Refer to the information in the table. Sami's nominal income in 2001 is equal to 11,000 13,200 6,000 2044

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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