In a particularly small region in the Philippines, the consumer price index C depends on• E, the current value of the gross regional domestic expenditure;• P, the number of people living in poverty; and• F, the average number of household members in a family.In particular, C = 100 + P where e denotes Euler's number. It is known that the grossFregional domestic expenditure is decreasing at the rate of PhP 50 per year; while the number ofpeople living in poverty and the average number of household members in a family are increasingat the rate of 3 and 1 person per year, respectively. How fast does the consumer price indexchange per year when E = 1000, P= 200, and F = 5? [b]

Inflation means the rise in the price level of goods and services over a period of time. It means…

In a particularly small region in the Philippines, the consumer price index C depends on E, the current value of the gross regional domestic expenditure; P, the number of people living in poverty; and F, the average number of household members in a family. articular, C = 100 + where e denotes Euler's number. It is known that the gross e-EP F onal domestic expenditure is decreasing at the rate of PhP 50 per year; while the number of ple living in poverty and the average number of household members in a family are increasing he rate of 3 and1 person per year, respectively. How fast does the consumer price index nge per year when E = 1000, P = 200, and F = 5? [b]

In a particularly small region in the Philippines, the consumer price index C depends on E, the current value of the gross regional domestic expenditure; P, the number of people living in poverty; and F, the average number of household members in a family. articular, C = 100 + where e denotes Euler's number. It is known that the gross e-EP F onal domestic expenditure is decreasing at the rate of PhP 50 per year; while the number of ple living in poverty and the average number of household members in a family are increasing he rate of 3 and1 person per year, respectively. How fast does the consumer price index nge per year when E = 1000, P = 200, and F = 5? [b]

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 13SQ

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