Questions 14-15 are a set of questions. Here is the table for the questions. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below. Year 2009 2010 2011 Expenditures on Food $5,000 $5,800 $6,600 Consumer Price Index 160.0 168.0 X 14. Refer to the above Table. Suppose Will's 2010 food expenditures in 2011 dollars amount to $6,235. Then x, the consumer price index for 2011, has a value of O(A) 171.2. (B) 175.0. O (C) 177.5. (D) 180.6. 15. Refer to the above Table. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,670. Then (A) the consumer price index was 11.8 percent higher in 2011 than it was in 2009. (B) the inflation rate in 2011 was 8 percent. O(C) Will's 2011 food expenditures in 2009 dollars amount to $5,740. (D) Will's 2010 food expenditures in 2011 dollars amount to $6,210. * 3 points * 3 points
Questions 14-15 are a set of questions. Here is the table for the questions. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below. Year 2009 2010 2011 Expenditures on Food $5,000 $5,800 $6,600 Consumer Price Index 160.0 168.0 X 14. Refer to the above Table. Suppose Will's 2010 food expenditures in 2011 dollars amount to $6,235. Then x, the consumer price index for 2011, has a value of O(A) 171.2. (B) 175.0. O (C) 177.5. (D) 180.6. 15. Refer to the above Table. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,670. Then (A) the consumer price index was 11.8 percent higher in 2011 than it was in 2009. (B) the inflation rate in 2011 was 8 percent. O(C) Will's 2011 food expenditures in 2009 dollars amount to $5,740. (D) Will's 2010 food expenditures in 2011 dollars amount to $6,210. * 3 points * 3 points
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Questions 14-15 are a set of questions. Here is the table for the questions.
Will's expenditures on food for three consecutive years, along with other values, are presented
in the table below.
Year
2009
2010 2011
Expenditures on Food
$5,000
$5,800 $6,600
Consumer Price Index 160.0 168.0
X
14. Refer to the above Table. Suppose Will's 2010 food expenditures in 2011
dollars amount to $6,235. Then x, the consumer price index for 2011, has a value
of
O(A) 171.2.
(B) 175.0.
O (C) 177.5.
(D) 180.6.
15. Refer to the above Table. Suppose Will's 2009 food expenditures in 2011
dollars amount to $5,670. Then
(A) the consumer price index was 11.8 percent higher in 2011 than it was in 2009.
(B) the inflation rate in 2011 was 8 percent.
O(C) Will's 2011 food expenditures in 2009 dollars amount to $5,740.
(D) Will's 2010 food expenditures in 2011 dollars amount to $6,210.
* 3 points
* 3 points
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