Refer to image; please show work The country of Newworld produces cheese and bread, and it has published thefollowing macroeconomic data, where prices are dollars per unit:20172018Product Quantity Price Quantity PriceCheese1500$32000$9Bread3000$17000$2Between 2017 and 2018, the percent rate of increase in the price level as measuredby a fixed-weight index that uses production in 2018 as the fixed basket of goodswasA) 146%B) 160%C) 242%D) 327%If national saving in an economy is equal to $10 billion, exports are $2 billion,imports are $3 billion, and net factor payments from abroad is $2 billion, totalinvestment will beA) $5 billion.B) $9 billion.C) $10 billion.D) $11 billion.

The Consumer Price Index is a tool for tracking long-term trends in consumer-paid prices for…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The country of Newworld produces cheese and bread, and it has published the
following macroeconomic data, where prices are dollars per unit:
2017
2018
Product Quantity Price Quantity Price
Cheese
1500
$3
2000
$9
Bread
3000
$1
7000
$2
Between 2017 and 2018, the percent rate of increase in the price level as measured
by a fixed-weight index that uses production in 2018 as the fixed basket of goods
was
A) 146%
B) 160%
C) 242%
D) 327%
If national saving in an economy is equal to $10 billion, exports are $2 billion,
imports are $3 billion, and net factor payments from abroad is $2 billion, total
investment will be
A) $5 billion.
B) $9 billion.
C) $10 billion.
D) $11 billion.

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