Questions:1. Compute the total costs for all the years (2017 to 2020).2. Compute the price index for each year using 2019 as the base year.3. Compute the inflation rate for each year. Table below shows the quantity and prices of different CPI components(items) from 2017 to 2020.(2018)(2017)Price(2019)Price(2020)PriceItemsQuantityPriceHousing15PI0.00P12.00P15.00PI7.00Transportation50P150.00P160.00P165.00PI71.00Food andBeverages20P250.00P255.00P275.00P277.00Education100P300.00P315.00P350.00P355.00Others150P400.00P420.00P450.00P460.00

GDP refers to the value of all final goods and services produced in an economy over a given period…

Table below shows the quantity and prices of different CPI components (items) from 2017 to 2020. (2017) Price (2018) Price (2019) Price (2020) Price Items Quantity Housing 15 P10.00 P12.00 P15.00 PI7.00 Transporta tion 50 P150.00 P160.00 P165.00 PI71.00 Food and Beverages 20 P250.00 P255.00 P275.00 P277.00 Education 100 P300.00 P315.00 P350.00 P355.00 Others 150 P400.00 P420.00 P450.00 P460.00

Table below shows the quantity and prices of different CPI components (items) from 2017 to 2020. (2017) Price (2018) Price (2019) Price (2020) Price Items Quantity Housing 15 P10.00 P12.00 P15.00 PI7.00 Transporta tion 50 P150.00 P160.00 P165.00 PI71.00 Food and Beverages 20 P250.00 P255.00 P275.00 P277.00 Education 100 P300.00 P315.00 P350.00 P355.00 Others 150 P400.00 P420.00 P450.00 P460.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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