Two countries, Sahara and Arctica, conduct consumer surveys. In Sahara, consumers buy 69 units of bottled water, 20 units of food, and 5 units of housing. In Arctica, consumers buy no bottled water (they chew free icicles), 84 units of housing, and 18 units of food. The prices in these two countries are the same. In the reference base year, water is $2 a unit, food is $5 a unit, and housing is $10 a unit. In the current year, water is $4 a unit, food is $6 a unit, and housing is $17 a unit. In the current year, the CPI in Sahara is 167 and the CPI in Arctica is 165 Between the base year and the current year, the inflation rate in Sahara is inflation rate in Arctica is percent. >>> Answer to 1 decimal place. The CPI rose faster in The CPI rose faster in one country because >>> Answer to 1 decimal place, percent and the A. the prices of bottled water and food that increased most have a greater influence on the CPI of Sahara B. the prices of housing and food that increased most have a greater influence on the CPI of Arctica the prices of housing and food that increased most have a greater influence on the CPI of Sahara OC

Two countries, Sahara and Arctica, conduct consumer surveys. In Sahara, consumers buy 69 units of bottled water, 20 units of food, and 5 units of housing. In Arctica, consumers buy no bottled water (they chew free icicles), 84 units of housing, and 18 units of food. The prices in these two countries are the same. In the reference base year, water is $2 a unit, food is $5 a unit, and housing is $10 a unit. In the current year, water is $4 a unit, food is $6 a unit, and housing is $17 a unit. In the current year, the CPI in Sahara is 167 and the CPI in Arctica is 165 Between the base year and the current year, the inflation rate in Sahara is inflation rate in Arctica is percent. >>> Answer to 1 decimal place. The CPI rose faster in The CPI rose faster in one country because >>> Answer to 1 decimal place, percent and the A. the prices of bottled water and food that increased most have a greater influence on the CPI of Sahara B. the prices of housing and food that increased most have a greater influence on the CPI of Arctica the prices of housing and food that increased most have a greater influence on the CPI of Sahara OC

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table shows hypothetical values for the real GDP and population for the United States, Japan, Brazil, and Germany in 2016. Complete the table by calculating the real GDP per capita for each country. Instructions: Enter your answers as a whole number. Real GDP and Population, 2016: Select Countries Country United States Japan Brazil Germany Real GDP (millions of Population (millions of dollars) $14,059,255 4,199,260 1,709,488 2,958,902 people) 287 117 186 77 Real GDP per Capita (dollars) $
Which statement best describes the Consumer Price Index? The Consumer Price Index measures inflation by pricing food and energy purchased by urban consumers. The Consumer Price Index measures inflation by pricing a comprehensive basket of goods and services purchased by urban consumers. None of the statements are correct. The Consumer Price Index measures inflation by pricing a basket of essential goods and services purchased by urban consumers. The Consumer Price Index measures inflation by pricing a basket of essential goods and services purchased by urban and rural consumers.
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To answer Questions #1 through #4 use the following information: Suppose that in the nation state of Raleighville there are 2 final goods produced in the economy - dog food and kitten chow. Suppose the economy produces 15 units of dog food and 5 units of kitten chow in 2000 (the base year), and 20 units of dog food and 10 units of kitten chow in 2020. Further suppose the price of dog food was $1.00 per unit in 2000, and $3.00 per unit in 2020; whereas the price of kitten chow was $1.00 in 2000 and $2.50 in 2020. What was the real GDP for Raleighville in 2020? Oa. $20.00 O b. $30.00 Oc. $57.50 Od. $85.00 Next page page
A hypothetical country of Narnia produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown in the following table. The base year is 2017. Year 2016 2017 2018 2019 Price (Dollars per movie) 7.6% 7.5% Movies 7.2% 7% 10.00 11.00 12.00 12.00 Quantity Quantity (Movies) (Dollars per bag) (Bags) 500 600 650 625 Popcorn Refer to Table 23-5. What was the rate of inflation for Narnia in 2019? (Hint: round-off to the nearest decimal point) Price 5 4 5 6 1,000 900 950 925
To answer Questions #1 through #4 use the following information: Suppose that in the nation state of Raleighville there are 2 final goods produced in the economy - dog food and kitten chow. Suppose the economy produces 15 units of dog food and 5 units of kitten chow in 2000 (the base year), and 20 units of dog food and 10 units of kitten chow in 2020. Further suppose the price of dog food was $1.00 per unit in 2000, and $3.00 per unit in 2020; whereas the price of kitten chow was $1.00 in 2000 and $2.50 in 2020. What was the real GDP for Raleighville in 2000? O a. $20.00 O b. $30.00 O c. $57.50 O d. $85.00 Next page
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 200 bunches of bananas. In the two-person economy that George and John set up, fish sell for 1 clamshell each, boars sell for 10 clamshells each, and bananas go for 5 clamshells per bunch. George paid John a total of 30 clamshells for helping him to dig bait for fishing, and he also purchased five of John's mature banana trees for 30 clamshells each. What is the GDP of George's and John's island in terms of clamshells? Instructions: Enter your response as a whole number. GDP: clamshells.
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George and John, stranded on an island, use clamshells for money. Last year George caught 500 fish and 5 wild boars. John grew 200bunches of bananas. In the two-person economy that George and John set up, fish sell for 1 clamshell each, boars sell for 10 clamshells each, and bananas go for 5 clamshells per bunch. George paid John a total of 30 clamshells for helping him to dig bait for fishing, and he also purchased five of John’s mature banana trees for 30 clamshells each. What is the GDP of George’s and John’s island in terms of clamshells?
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