7 The following table shows the amounts of five different goods that are included in a particularrepresentative basket, their prices in the base year (2010) and their prices in 2015.GoodQuantityPrice (2010)Price (2015)A$2.15$2.30B.15$3.00$3.5020$1.80$2.257.$11.50$12.70E12$8.00$7.85Using the representative basket of goods as the basis for the computation of a price index, with2010 as the bas year, what is the price index in 2015?O 111.7108.8O 112.4106.1123.7

Price index measures the average change in prices of group of goods over time.

The following table shows the amounts of five different goods that are included in a particular representative basket, their prices in the base year (2010) and their prices in 2015. Good Quantity Price (2010) Price (2015) A 8. $2.15 $2.30 B 15 $3.00 $3.50 20 $1.80 $2.25 D. 7. $11.50 $12.70 12 $8.00 $7.85 Using the representative basket of goods as the basis for the computation of a price index, with 2010 as the bas year, what is the price index in 2015? O 111.7 108.8 112.4 106.1 123.7

The following table shows the amounts of five different goods that are included in a particular representative basket, their prices in the base year (2010) and their prices in 2015. Good Quantity Price (2010) Price (2015) A 8. $2.15 $2.30 B 15 $3.00 $3.50 20 $1.80 $2.25 D. 7. $11.50 $12.70 12 $8.00 $7.85 Using the representative basket of goods as the basis for the computation of a price index, with 2010 as the bas year, what is the price index in 2015? O 111.7 108.8 112.4 106.1 123.7

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A79. Which of the following is the most likely consequence of implementing the ‘Unified Payments Interface (UPI)’? (a) Mobile wallets will not be necessary for online payments. (b) Digital currency will totally replace the physical currency in about two decades. (c) FDI inflows will drastically increase. (d) Direct transfer of subsidies to poor people will become very effective.
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3 Calculate the income taxes that a person has to pay considering the table below- If a person's income is $6,500, how much does he pay in taxes? If a person's income is $13,500, how much does she pay in taxes? (a) (b) Taxable Up to $5,000 $5,001-$10,000 $10,001-$15,000 Income Taxes 10% of taxable income 14% of taxable income 16% of taxable income
Price of X = $2 Income $24 = Price of Y=$4 Qx TUX MUX MUx/Px Qy TUY MUY MUy/Py 1 24 24 2 46 24 24 12 1 40 040 10 2 72 3 20 20 3 100 4 A 9 4 5 dings 5 100 16 5 16 4 6 114 6 144 es The correct value for the blank labeled A is