Refer to the information provided in table below to answer the questions that follow. Number of units Price per Unit purchased 2009 2010 2011 Pistachio 10 units $2 $2.5 $3.3 Cashew Almond 7 units $4 $4.5 $4.4 5 units $2 $2.5 $3 1. Calculate the price of a bundle containing 10 units of pistachio, 7 units of cashew, and 5 units of almond in 2009, 2010, 2011. 2. Convert the results into an index by dividing each bundle price figure by the bundle price in 2009. 3. Calculate the Inflation rate between 2010 and 2009.

Refer to the information provided in table below to answer the questions that follow. Number of units Price per Unit purchased 2009 2010 2011 Pistachio 10 units $2 $2.5 $3.3 Cashew Almond 7 units $4 $4.5 $4.4 5 units $2 $2.5 $3 1. Calculate the price of a bundle containing 10 units of pistachio, 7 units of cashew, and 5 units of almond in 2009, 2010, 2011. 2. Convert the results into an index by dividing each bundle price figure by the bundle price in 2009. 3. Calculate the Inflation rate between 2010 and 2009.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter3: Your Role As A Consumer

Section3.1: Consumption, Income, And Decision Making

Problem 2R

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