subject:economic The table below details Student A's monthly purchases during 2019 and 2020. Answer the following questions writing out dollars andcents for monetary values e.g. $1.00, item weights to two decimal places e.g. 0.10, price index values as whole numbers withoutdecimals, e.g. 110, and percentages to one decimal place e.g. 1.0%.HotdogsCans of ColaChocolate barsMagazinesMoviesPrices ($)20193.401.651.005.255.0020203.501.601.006.254.75Quantities(# consumed per month)2020220193The item weights associated with this shopping basket aremagazines, and [ for movies.25732a. The value of Student A's 2019 shopping basket using 2019 prices is $127723for hotdogs.for cola,b. The value of Student A's 2019 shopping basket using 2020 prices is $ [If 2019 is used as the base year, the 2020 value of Student A's price index is [With 2019 as the base year this index has changed by [ % between 2019 and 2020.for chocolate bars,and the 2019 value of this index is thenfor

Change in the index from 2019 to 2020 is = [(index 2020 - index 2019)/ index 2019]*100% Value of…

The table below details Student A's monthly purchases during 2019 and 2020. Answer the following questions writing out dollars and cents for monetary values e.g. $1.00, item weights to two decimal places e.g. 0.10, price index values as whole numbers without decimals, e.g. 110, and percentages to one decimal place e.g. 1.0%. Hotdogs Cans of Cola Chocolate bars Magazines Movies Prices ($) 2019 3.40 1.65 1.00 5.25 5.00 2020 3.58 1.60 1.00 6.25 4.75 Quantities (# consumed per month) 2020 2 27 7 2019 3 25 7 3 2 a. The value of Student A's 2019 shopping basket using 2019 prices is $[ 2 3 The item weights associated with this shopping basket are magazines, and for movies. b. The value of Student A's 2019 shopping basket using 2020 prices is $ If 2019 is used as the base year, the 2020 value of Student A's price index is [ With 2019 as the base year this index has changed by % between 2019 and 2020. for hotdogs. for cola. for chocolate bars, and the 2019 value of this index is then for

The table below details Student A's monthly purchases during 2019 and 2020. Answer the following questions writing out dollars and cents for monetary values e.g. $1.00, item weights to two decimal places e.g. 0.10, price index values as whole numbers without decimals, e.g. 110, and percentages to one decimal place e.g. 1.0%. Hotdogs Cans of Cola Chocolate bars Magazines Movies Prices ($) 2019 3.40 1.65 1.00 5.25 5.00 2020 3.58 1.60 1.00 6.25 4.75 Quantities (# consumed per month) 2020 2 27 7 2019 3 25 7 3 2 a. The value of Student A's 2019 shopping basket using 2019 prices is $[ 2 3 The item weights associated with this shopping basket are magazines, and for movies. b. The value of Student A's 2019 shopping basket using 2020 prices is $ If 2019 is used as the base year, the 2020 value of Student A's price index is [ With 2019 as the base year this index has changed by % between 2019 and 2020. for hotdogs. for cola. for chocolate bars, and the 2019 value of this index is then for

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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