a) The following table shows the average market basket prices of an Asian country for several years. Year Market Basket Price ($) 2008 340 2018 420 2019 455 2020 500 I. Using the table above, calculate the Consumer Price index for 2018, 2019 and 2020 if the base year is 2008. II. Based on the above information, calculate the inflation rate in the year 2020
a) The following table shows the average market basket prices of an Asian country for several years.
|
Year |
Market Basket |
|
2008 |
340 |
|
2018 |
420 |
|
2019 |
455 |
|
2020 |
500 |
I. Using the table above, calculate the
II. Based on the above information, calculate the inflation rate in the year 2020
b) The following table shows the national account information of an African Country.
|
Item |
$(millions) |
|
Household Consumption |
1,250.00 |
|
|
120.00 |
|
Factor income received from abroad |
580.00 |
|
Government investment |
824.00 |
|
Exports |
123.00 |
|
Imports |
390.00 |
|
Factor income paid to abroad |
225.00 |
|
Gross private domestic investment |
594.00 |
|
Government Consumption |
447.00 |
|
Transfer Payments |
946.00 |
I. Calculate the value of
II. According to the circular flow model, briefly explain the leakages of an economy
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
