The economy of country Y produces 5 commodities; rice, salted fish, sugar, salt, and oil. The following table shows the outputs and prices for year 2000, 2001 and 2002.   Instructions calculate Laspeyres consumer price index for 2001 and 2002 using 2000 as base year

Q: Suppose the information in the table is for a simple economy that produces and consumes only four…

A: Consumer Price Index helps the economists to know the overall change in consumer prices based on a…

Q: 1) The table below gives the price and consumption (usage/sales) for two products x and y for four…

A: In the basic expenditure index, we consider all the expenditures made by the households in a current…

Q: The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of…

A: CPI is the consumer price index.  CPI is used to calculate the inflation rate. CPI is calculated as…

Q: difference between nominal intrest rate and real intrest rate

A: An interest rate lets you know how high the cost of borrowing is, or high the rewards are for…

Q: The index used most often to measure prices paid by households is the:   a) producer price index…

A: The measure that depicts for a given class of goods or services the average of price relatives being…

Q: Calculate the value added by the firm if it is give that domestic sales of firm is $9000 , exports…

A: The data presented in the question is as:- Domestic sales = $9000 Exports = $3300 Purchase made by…

Q: Government survey-takers noted the following prices each year for the listed items. Items 2016…

A: Producer price index (PPI) includes only crude oil (an input) and excludes consumer goods like…

Q: year nominal GDP REAL GDP PRICE INDEX           1 5200 4800             2 5600 5000 112           3…

A: Price indices serve as valuable tools that quantify fluctuations in the overall price of items and…

Q: Price Quantity Year (Dollars per plastic cup) (Number of plastic cups) 2019 2020 2021 Year 2019 2020…

A: Nominal GDP is the total value of goods and services produced in an economy within a given period,…

Q: Question: What is the aggregate of the gross balances of primary income of all resident…

A: Gross Domestic Product (GDP) is a fundamental measure used to gauge the economic performance of a…

Q: The nation of Kona cultivates coffee beans and cassava, from which all their consumer goods are…

A: A nominal wage, or money wage, is the precise amount of money you get paid per hour or per salary.…

Q: Find the price index if the nominal GDP is 4400 the real gdp is 2200 ?

A: Generally in the given question, Nominal GDP value is = 4400 The real GDP is = 2200 Price index = ?

Q: Year Nominal GDP Real GDP 2012 280 290 2013 315 260 2014 305 310   The increase in nominal GDP…

A: GDP is a macroeconomic measure of the aggregate total production of output in an economy. It can be…

Q: From 2017 to 2018, nominal GDP The inflation rate in 2018 was , and real GDP Why is real GDP a more…

A: Nominal GDP measures the economic production at market prices in the current year.Real GDP measures…

Q: calculate the consumer price index we must A. Compare the value of the current basket to the base…

A: CPI measures the price of only goods and services bought by consumers.

Q: Question 1 The Jamaican govermment has released its production output for Bauxite and Sugar as shown…

A: Nominal GDP is the sum of product of current year quantity and current year price. Real GDP is…

Q: 1978 1979 1980 1981 1978 O 1979 Using the above table, which year was the misery index the highest?…

A: Real GDP is the total value of final goods and services produced within the country in a given year…

Q: If net exports are $300 and in the country the exports are double that of imports Calculate the…

A: According to the above mentioned question, the values are:- Net exports = $300 million Also the…

Q: 2010 Price Quantity 100 2016 Price QuantitY 113 55 85 10 se.24 50.32 0.29 0.34 1.04 0.64 0.43 50…

A: a) The simple price index formula is given by = Pcurrent/Pbase *100 Thus, Fruit Price Index…

Q: Year 1970 1971 1972 1973 Nominal GDP 932 1,117 1,469 1,758 Price Index 82 104 109 122 Refer to the…

A: Price index measures the change in the average price level. It does not means that all prices change…

Q: Discuss the effectiveness of Gross Domestic Product (GDP) as a measure a measure of the standard of…

A: Gross Domestic Product(GDP) is the cumulative market value of every final goods and services…

Q: The GDP deflator in year 2 is ETTT Quantity Quantity Product Price (Year 1) Price (Year 2) (Year 1)…

A: "Inflation is the rise in the price level of the economy." Over time, the price of goods and…

Q: Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021…

A: consumer price reflects the cost of living of the people, it shows how the prices of consumer goods…

Q: b. Find the price index number for 2015 using Paasche's Method. Year 2014 Quantity 8 Year 2015…

A: Paasche’s price index (PI) can be calculated by using the following formula.

Q: Price Quantity Year (Dollars per plastic cup) (Number of plastic cups) 220 2019 2020 160 120 2021 2…

A: GDP or gross domestic product measures the money value of all final goods and services produced in…

Q: Comparison of the consumer price index over a longer period of time is problematic because: O The…

A: CPI - A Consumer Price Index measures changes in the price level of a fixed basket of consumer goods…

Q: a. Complete the following diagram. 1.) Using the line drawing tool, draw a long-run aggregate supply…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Items 2000 2020 Price ($) 0,71 0,74 1,34 2,71 Quantity 18 5 Price ($) 2 Quantity 27 Margarine…

A: The simple aggregate price index is the ratio of two variables namely the price of the current year…

Q: Calculate GDP deflator from the following table: Year Nominal GDP Real GDP 2000 8952 8952…

A: The GDP deflator, also called implicit price deflator, is a measure of inflation. It is the ratio of…

Q: According to the following table on the Consumer Price Index (CPI) with base 14-100, carry out the…

A: The consumer price index (CPI) is an important economic indicator that is used to measure the…

Q: Problem  Country produces 100 pizza at price $8, 20 tomatoes at price $2 and 45 meat at price $6.…

A: Gross domestic product refers to the total value (market value/monetary value) of all finished goods…

Q: Rate% country 2016 2017 2018 2019 2020 Unemployment Germany 4.12 3.75 3.38 3.14 4.31 Economic growth…

A: (i)

Q: An economy produces three products, bags, computers and shirts. The prices and quantities of these…

A: GDP measures the market value of final goods and services produced by an economy during a given…

Q: 1) What is the GDP price index? How is the GDP Price Index used?

A: The gross domestic product price index measures the changes in the prices of goods and services…

Q: If the real GNP for current year is 83 and the nominal GNP for current year is 194 calculate the…

A:

Q: calculate Paasche consumer price index for 2001 and 2002 using 2000 as base year!

A:

Q: Calculate the domestic sales by firm A if value added by firm is $16,000 , exports by firm is $9000…

A: Value added by firm A=$16,000 Exports by firm A=$9000 Purchase by firm A=$3000 Value added is one of…