Of the items listed in the table above, are there any items that cost more than one-and-one-half times as much in 2009 as they cost during the base years, but less than twice as much as they cost during the base period? If so, which ones? (Select all that apply.) food and beverages housing apparel transportation medical care recreation education and communication none of these
Q: Which of the following is an assumption of the aggregate demand-aggregate supply model? A. An…
A: When talking about aggregate demand and aggregate supply model, it is the model to represent the…
Q: When advertising increases brand loyalty for your company's brand, then the company's demand curve…
A: Brand loyalty means that if other new brands enter the market then also I will choose to buy this…
Q: The following are market demand and supply equations for a perfume product: Qo = 70 – 4P Qs = 10 +…
A: Equilibrium Price and Quantity is the point where demand equals supply. Initial Equilibrium: 70 - 4P…
Q: Consider an AK model of endogenous growth. If the aggregate production function is given by Y-1.5K…
A: In an AK model of endogenous growth, the aggregate production function is given by Y=1.5K and the…
Q: Explain the methods of GDP counting (measuring)! Explain potential GDP!
A: GDP stands for Gross Domestic Product.
Q: Find the book value of machine purchased 2 years ago for P20,000 if it is depreciated using sum of…
A: Economic depreciation is a proportion of the lessening in the market worth of a resource after some…
Q: ANSWER B Economics of Education. The issue of education is quite critical. The demand for education…
A: Since you have posted a question with multiple sub–parts, we will solve the first three sub-parts…
Q: You are faced with making a decision on a large capital investment proposal. The capital investment…
A: Since the question you have posted consists of multiple parts, we will answer the first two…
Q: Given the following demand and supply schedules for banana, you solve for the following problems.…
A: Price elasticity of demand is defined as the percentage change in quantity demanded due to a…
Q: (a) Why is education and training rarely provided by firms? What government policies would encourage…
A: Endogenous growth theory is referred to the economic theory that can argue that there is a…
Q: 250-300 words!!! Prompt: How did the events of 9/11 impact America's foreign policy? (Select one…
A: The economic policy of the government is the expenditure or taxes. The government made the…
Q: 4. Ball Bearings, Inc., faces costs of production as follow Quantity Total Fixed Cost Total Variable…
A: given that, total fixed cost and total variable cost we have to find firms profit or loss and was…
Q: How can the tourism industry apply the recovery stages of crisis management to situations in Covid…
A: An economic recovery is the period after a recession in the business cycle.An economic recovery is…
Q: million more supplied at every interest rate. Calculate the new equilibrium interest rate and…
A: Given: Q1.Table shows the amount of savings and borrowing in a market, measured in millions of…
Q: Do you agree with the following statement and explain why! "A firm that operates in a perfectly…
A: Perfectly competitive market is a market where there are many buyers and sellers in the market…
Q: Suppose that banks hold reserves of 5 per cent against cheque account deposits. a If the RBA…
A: The money supply basically refers to the entire quantity of money in circulation, which includes…
Q: Suppose that if you purchase a share of SuperCo, you will receive an annual dividend of $2.59 next…
A: Answer; Given Annual Dividend= $ 2.59 Approprate Discount Rate = 6.75% 0r 0.0675…
Q: 3. Please name three commercial banks. Why do banks need to hold sufficient capital and reserves?
A: A commercial bank is a financial institution that handles all deposit and withdrawal transactions…
Q: We have talked about inflation. Consider the following question and evaluate: Do rising oil prices…
A: It is used to calculate how goods and services prices rise. Prices can increase due to increasing…
Q: Suppose the Philippines experiences a period of high inflation (>4%) in 2022, which stabilizes into…
A: Here, it is given that Phillipines has a high inflation in 2022 and stabilizes the economy to more…
Q: Consider a 30-year US corporate bond paying 4.5% coupon. The bond is currently priced at $958. Find…
A: The bond market is the market that shows the inverse relationship between interest rate and the…
Q: If consumer income falls and as a result the demand for a good rises, then that good can be…
A: There are two types of goods depending on its relationship with income.
Q: The Objectives of the Central Bank excludes which of the following? O a. Financial System Stability…
A: Central Bank is the financial institution responsible for the management of monetary system of the…
Q: 3.* Consider the Heckscher-Ohlin model with the following production functions for food and cloth…
A: The production function having higher rate of marginal technical substitution of capital in place…
Q: Name and describe at least one international organization or trade agreement which has sought to…
A: International trade is described as the exchange of commodities, services, and capital across…
Q: Assume two countries (US and Germany) are facing the decision of whether to participate in the Paris…
A: A dominant strategy is a strategy that the player will always choose irrespective of what the other…
Q: The company buys a vehicle, n=18 first cost=60000 on 1st 7th and 14th years earning from the vehicle…
A: Number of years = 18 First cost = 60000 Interest rate = 8% Annual earning = x
Q: If the marginal propensity to consume is 0.9, then the tax multiplier will be: Group of answer…
A: Here, it is given that the marginal propensity consume of an economy is 0.9 due to which a change in…
Q: Sophie is offered a performance based wage that will either be equal to $4,200 or to $3,600, each…
A: Expected Value = (50%)(4200) + (50%)(3600) Expected Value = $3900 Here the Certainty Equivalent is…
Q: (Q#3) There is an improvement in the interest returns that can be earned from long term Bank CD's.…
A: Here, it is given that stock market, real estate market and market for long-term bank CD's have…
Q: 3. Using aggregate demand and aggregate supply analysis, show the effects of the following (Assume…
A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Given the utility function, where U is the total utility and x and y are the commodities consumed,…
A: U(x,y) = (5x+3)2(4y+2)3
Q: What is the opportunity cost of increasing the time spent on physics from 80 to 100 percent? What is…
A: The opportunity cost is the time spent studying as well as the money that could have been spent…
Q: Using the IS/LM and AS/AD models, describe graphically and in simple English the long-term effects…
A:
Q: Average Fixed Average Average Total Total Product Cost Variable Cost Cost Marginal Cost $ 25.00 1 $…
A: There are many firms in purely competitive market. All the firms produce identical goods so buyers…
Q: When the factories produce pesticide, they also create waste, which they dump into a lake on the…
A: The demand curve shows the inverse relationship between price and quantity demanded. The demand…
Q: When conducting a hypothesis test for a given sample size, if a is increased from 0.05 to 0.10, then…
A: When the hypothesis are settled, Type I error will be said as the probability to reject the true…
Q: Suppose that the industry is a constant cost industry and entry and exit of firms are allowed.…
A: Cost Function refers to the equation that shows how the quantity of the good is related to the cost…
Q: Hello! I just want to ask for help whether the answers in the given pictures are correct. If it's…
A: In the given question Total cost is TC = 800 + 10q+ 1.5q2 And price = 100 In this cost function…
Q: Given the cost information below, answer the following question Output Total Cost $10.00 10 88.40 20…
A: Fixed cost is the cost that remains same at all levels of output. Variable cost is the cost that…
Q: The Federal Reserve can target both the money supply and interest rates simultaneously. O True O…
A:
Q: 1718
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: competition. Which is more efficient? Explain your reasoning and
A: Monopolist profit will maximizing where marginal cost equal marginal revenue. MR= MC In Perfect…
Q: Explain the difference in market power between perfectly competitive firms and monopolistically…
A: Answer to the question is as follows:
Q: How can project effectiveness apply to consumers?
A: Project effectiveness is simply when the project is being done on time and with least cost. It is…
Q: List and explain three reasons for strong barriers to entry that make it difficult for new firms to…
A: In competitive firms, there are either no barriers to entry or very less barriers to entry that…
Q: Figure: Monopoly Profits 2 P. 18 16 14 12 10 8. 4 MC = AC 2. MR O 20 40 60 80 100 120 140 160 180 Q…
A: Consumer surplus is the difference between the maximum price consumer wants to pay and actual price…
Q: Assume an hypothetical consumer faced by the following utility function; U=X^2Y ( squared times y).…
A:
Q: A) Using demand and supply diagram, describe and discuss positive externality in production of a…
A: Prices in efficient markets represent all available information about a certain stock or industry at…
Q: Agreement or not. The following payoff matrix contains the estimated payoffs for both countries for…
A: According to Nash equilibrium, if any of the players changes their strategy, nothing is gained if…
Solve the following.
Of the items listed in the table above, are there any items that cost more than one-and-one-half times as much in 2009 as they cost during the base years, but less than twice as much as they cost during the base period? If so, which ones? (Select all that apply.)
Step by step
Solved in 2 steps
- The following graph shows the approximate value of the U.s. Consumer Price Index (CPI) from September 2004 through November 2005. CPI Sep 2004–Nov 2005 I(t) 202 200 198 196 194 192 190 + 188 →t 14 4 8 10 12 Sep-04 Jan-05 Nov-05 The approximating curve shown on the figure is given by I(t) = -0.005t³ + 0.12t2 – 0.01t + 190 (0 sts 14), where t is time in months since the start of September 2004. (a) Use the model to estimate the monthly inflation rate in January 2005 (t = 4). Recall that the inflation rate is I'(t) (Round your answer to three decimal places.) I(t) % (b) Was inflation slowing or speeding up in January 2005? O slowing down O speeding up (c) When was inflation speeding up? When was inflation slowing? (Use the model to determine this.) Inflation was speeding up prior to --Select--- v 2005 and slowing after --Select--- v 2005.Insurance and pensions 11.9% Item a. Entertainment b. Transportation c. Clothing Housing 32.8% Entertainment 5.3% Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey (2018 data). 0.053 0.159 0.03 Transportation 15.9% Health care 8.1% Use the item weights in the figure to determine the percentage change in the CPI that would result from a(n) a. 20 percent increase in entertainment prices. b. 8 percent decrease in transportation costs. c. doubling of clothing prices. (Note: Review the table titled "Computing Changes in the CPI" in your text for assistance.) Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Item Weight Price Change (Inflation Effect) Impact on CPI 20% -8% 100% Food 12.9% Clothing 3.0% Miscellaneous 10.1%Refer to the figure below. Insurance and pensions 11.9% Item a. Entertainment b. Transportation c. Clothing Housing 32.8% Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey (2018 date). Entertainment 5,3% Item Weight 0.053 0.159 0.03 Transportation 15.9% Health care 8.1% Use the item weights in the figure to determine the percentage change in the CPI that would result from a(n) a. 20 percent increase in entertainment prices. b. 8 percent decrease in transportation costs. c. doubling of clothing prices. (Note: Review the table titled "Computing Changes in the CPI" in your text for assistance.) Instructions: Enter your responses as a percentage rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Price Change 20% -8% 100% Food 12.9% Clothing 3.0% Impact on CPI (Inflation Effect) Miscellaneous 10.1%
- Year Income CPI 2012 2013 62,464 65,692 226.7 230.3 2014 2015 66,899 70,500 233.9 233.7 2016 72,904 236.9 Answer of the following questions using the data in the table above (Show the analysis): a) Provide the adjusted median incomes (convert to 2016 dollars) b) Calculate the mean of the nominal incomes c) Calculate the mean of the adjusted incomes d) Explain the importance of adjusting values for inflation (2-5 sentences)Tennis Balls Golf Balls Bottles of Gatorade 2020 price Rs.250 Rs.450 Rs.150 2020 quantity 100 100 200 2021 price Rs.25 Rs.653 Rs.255 2021 quantity 100 100 200 Using a method similar to the CPI, compute the percentage change in the overall price levelThe rent for tenants in a building in 1940 was $30 per month. The landlord changes the rent based on the CPI-U. Use the CPI-U chart below to calculate the current rent in 2005. Round to the nearest dollar. Year CPI-U 1940 14.0 1949 23.8 1983 99.6 2000 172.2 2005 195.3 2009 214.5 2014 236.0 2017 245.1 2019 255.7 2020 258.8 $ (b) Show calculations and explain your reasoning.
- The table below lists CPI figures for Tandang Year CPI 1990 125.6 2000 169.7 2010 218.7 2020 254.1 Malcolm earned $58,000 in 1990. What would be the equivalent amount of income in 2010?Examine the following information as reported for the foods below in the years 2010 and 2019. 2010 2019 Item Price (S) Quantity Price (S) Quantity Eggs (one dozen) $2.75 27 $3.37 40 Chicken (500 g) $3.20 11 $3.57 7 Bread (675 g) $2.28 18 $2.83 23 a) Compute a simple price index for each of the items, using the year 2010 as the base year. Enter them in the same order as above: Eggs, Chicken, Bread. Round answers to 1 decimal. b) Compute a simple aggregate price index. Use 2010 as the base period. Round to one decimal place. c) Compute the Laspeyres price index for 2019 using 2010 as the base year. Round to one decimal place. d) Determine a value index for 2019, using 2010 as the base year. Round to one decimal place.Items 2016 2017 2018 Pizza $10 $20 $20 Cell Phone Service $90 $180 $180 Crude Oil (barrel) $90 $180 $90 Calculate the percentage increase in CPI from the base year( 2017) to 2018
- The following graph shows the approximate value of the United States Consumer Price Index (CPI) from December 2006 through July 2007. I(t) CPI Dec 2006–July 2007 209 208 207 206 205 204 203 202 201 1 3 4 5 Dec-06 July-07 O The approximating curve shown on the figure is given by I(t) = -0.04t3 + 0.4t2 + 0.1t + 202 (0 sts 7), where t is time in months since the start of December 2006. I'(t) (a) Use the model to estimate the monthly inflation rate in June 2007 (t = 6). Recall that the inflation rate is I(t) (Round your answer to three decimal places.) (b) Was inflation slowing or speeding up in June 2007? O slowing down O speeding up (c) When was inflation speeding up? When was inflation slowing? Inflation was speeding up prior to one third of the way through ---Select--- 2007 and slowing down after that.Monthly Consumer Price Index from January 2015 to December 2020 (Source: STATIN) Month 2015 2016 2017 2018 2019 2020 January 85.4 88.6 90.9 95.2 97.4 102.5 February 84.8 87.9 91.1 95.1 97.4 103.2 March 85.3 87.8 91.4 95.0 98.2 102.9 April 85.4 87.5 91.7 94.6 98.3 103.7 May 85.9 87.7 91.8 94.6 99.1 103.8 June 86.3 88.5 92.4 95.0 99.0 105.2 July 87.0 88.9 92.9 95.9 100.0 105.7 August 87.7 89.3 93.2 96.8 100.8 105.9 September 88.1 89.7 93.8 97.9 101.2 106.1 October 88.4 89.9 94.2 98.6 101.8 106.9 November 88.8 90.3 94.7 98.6 103.2 107.6 December 89.0 90.5 95.2 97.6 103.6 109.0 From the Table above: In December 2018, Mr. Logan Hepburn began receiving a salary of $100,000 per month.Up to December 2020, his salary has remained unchanged. What is his ‘‘real wage’’ in December…lwk I K The following table shows the top 10 films of all time through January 2021, measured by box office receipts in the United States, as well as several other notable films farther down the list. The CPI in 2020 was 259. Use this information and the data in the table to calculate the box office receipts for each film in 2020 dollars. Assume that each film generated all of its box office receipts during the year it was released. Use your results to prepare a new list of the top 10 films, based on their earnings in 2020 dollars. (Some of the films, such as the first Star Wars film, Gone with the Wind, and Snow White and the Seven Dwarfs, were re-released several times, so their receipts were actually eamed during several different years, but we will ignore that complication.) Fill in the real value of box office receipts in the table below. (Enter your responses rounded to one decimal place.) Rank 1 2 3 4 5 6 7 8 9 10 18 Part 1 of 2 19 23 117 214 244 397 Film Star Wars: Episode…
