Suppose that the following table shows the average retail price of butter (the price of salted, grade AA butter per pound) and the Consumer Price Index (CPI) from 1980 to 2010, scaled so that the CPI 100 in 1980. 1980 1990 CPI 100.00 Retail price of butter 1.91 158.56 1.86 2000 208.98 2.46 2010 218.06 3.05 Calculate the real price of butter in 1980 dollars. (Enter your responses rounded to two decimal places in the table below.) 1980 1990 Real price of butter 1.91 1.17 2000 1.18 2010 1.40 Between 1980 and 2000, the real price of butter has decreased What is the percentage change in the real price (in 1980 dollars) from 1980 to 2000? The real price of butter has decreased by 38.22 %. (Enter your response rounded to two decimal places.) Next, convert the CPI into 1990 = 100 and determine the real price of butter in 1990 dollars. To do this, first convert the CPI into 1990 dollars in the table below. (Enter your responses rounded to two decimal places in the table below.) 2010 Real price of butter CPI 1980 1990 2000 100 ☐ ப Next, determine the real price of butter in 1990 dollars in the table above. What is the percentage change in real price (1990 dollars) from 1980 to 2000? The real price of butter decreased by ☐ %. (Enter your response rounded to two decimal places.) Compare the percentage change using 1980 dollars with the percentage change using 1990 dollars. Allowing small rounding errors, the percentage change in the price of butter between 1980 and 2000 using 1980 dollars is the percentage change using 1990 dollars.

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: I need help working through this problem

A: Market clearing price and quantity is archived where both seller and buyer agree to exchange their…

Q: The table shows a private open economy. All figures are in billions of dollars. Real GDP C+ lg Net…

A: The real GDP refers to the total goods and services produced in an economy in a given fiscal…

Q: GST was first introduced in which country ?

A: GST was introduced in many countries to reduce the tax evasion.

Q: I also need help with C and D

A: The advertisement cost is a sunk cost, and this is exceptionally prominent in the oligopoly market.…

Q: How are the annual revenues and expenses estimated?

A: The annual revenue can be estimated by multiply the units of goods and services sold to the price…

Q: The price of land used in production.     Mortgage     Rent     Savings     Profit…

A: Land, labour, entrepreneurship, and capital are examples of components of production. The present…

Q: Business strategy for government agency to meet management challenges?

A: The main business strategy for government agencies is to go digital to reach a large number of…

Q: How is the Purchasing power important?

A: Answer - Purchasing Power - Purchasing power is overall buying capacity of country which is…

Q: What is land property

A: Land: It refers to the asset of the people. More land with the people shows that are rich. The less…

Q: what is the role of the supervisor in handling grievances

A: A supervisor is a person who is responsible for supervising an activity or business. He is…

Q: You have 5 kids and work 2 jobs to help support your family. You work a day job from 8:00 am to 4:00…

A: Production possibility frontier is a graphical representation that shows different possible outcomes…

Q: Evaluate safety and security affecting early childhood development in Jamaica. Use references.

A: Safety and security are fundamental aspects affecting early childhood development, as they provide…