2014 2014 2015 2015 Item Quantity Price Quantity Price Books 11 $5 14 $5 Pens 13 $1 12. $2 Haircuts 6 $2 16 $4 Te 2014 and 2015, Dexter consumed only books, pens and haircuts. The prices and quantities for 2014 and 2015 are listed in the table. The base year for Dexter is 2015. What is the CPI in 2015? O 1) 141 O 2) 175 3) 137 4) 100

2014 2014 2015 2015 Item Quantity Price Quantity Price Books 11 $5 14 $5 Pens 13 $1 12. $2 Haircuts 6 $2 16 $4 Te 2014 and 2015, Dexter consumed only books, pens and haircuts. The prices and quantities for 2014 and 2015 are listed in the table. The base year for Dexter is 2015. What is the CPI in 2015? O 1) 141 O 2) 175 3) 137 4) 100

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. In a simple economy, people consume only 2 goods, food and clothing. The market basket of goods used to compute the CPI consists of 50 units of food and 10 units of clothing. Food Clothing 2021 price per unit $4 $10 2022 price per unit $6 $20 (1) What is the cost of basket in each year? (2) Compute CPI in each year using 2021 as base year.
In 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. What is the inflation rate in 2020? The inflation rate in 2020 is OA. 148.1 B. 2.1 C. 80.0 D. 48.1 percent. C Item Books Pens 2019 2020 Price Quantity Price Quantity $6 4 $5 8 $5 6 $10 5
2014 2015 Item Quantity Price Price 4 €5.00 €7.50 Y €3.00 €3.00 4 €1.00 €1.50 The information in the table above gives the 2014 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2015 prices. What is the value of the CPI for 2015? О 133 O 140 O 100 O 75
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In 2020 and in 2021, consumers in Dexter consumed only books and pens. The prices and quantities for 2020 and 2021 are listed in the table. The reference base period for Dexter's CPI is 2020, and 2020 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2021. The inflation rate in 2021 is A. 121.7 B. 73.0 C. 21.7 D. 4.6 percent. ID Item Books Pens 2020 2021 Price Quantity Price Quantity 10 $5 7 $4 $5 5 8 $9