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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Question

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.
>>> Answer to 1 decimal place,
percent and the
The CPI rose faster in
The CPI rose faster in one country because
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
C. the prices of housing and food that increased most have a greater influence on the CPI of Sahara
D. the prices of bottled water and housing that increased most have a greater influence on the CPI of Sahara
OOO

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