2016 |2190 2017 2380 2018 2560 Use the information in Table 3 to measure the consumer price index for 2016, 2017 and 2018 respectively. Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domestic product (GDP). Explain, with the aid of an equation, the components of the consumption function. Explain the relationship between Investment spending and the interest rate.
2016 |2190 2017 2380 2018 2560 Use the information in Table 3 to measure the consumer price index for 2016, 2017 and 2018 respectively. Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domestic product (GDP). Explain, with the aid of an equation, the components of the consumption function. Explain the relationship between Investment spending and the interest rate.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Year
Cost of a basket (R) of consumer goods/services
(Base year )
2015
1850
2016
2190
2017
2380
2018
2560
Use the information in Table 3 to measure the consumer price index for 2016,
2017 and 2018 respectively.
Show your calculations and round off to two decimal places.
Show how gross national product (GNI) can be derived from gross domestic product (GDP).
Explain, with the aid of an equation, the components of the consumption function.
Explain the relationship between Investment spending and the interest rate.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F894aee3d-17ec-4e05-bbb6-66037cae9fa1%2Ffd4f0d0d-9c43-4e26-a681-4fdd7a5e8178%2Fy5tvr3e_processed.png&w=3840&q=75)
Transcribed Image Text:Year
Cost of a basket (R) of consumer goods/services
(Base year )
2015
1850
2016
2190
2017
2380
2018
2560
Use the information in Table 3 to measure the consumer price index for 2016,
2017 and 2018 respectively.
Show your calculations and round off to two decimal places.
Show how gross national product (GNI) can be derived from gross domestic product (GDP).
Explain, with the aid of an equation, the components of the consumption function.
Explain the relationship between Investment spending and the interest rate.
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