Use the following consumer data for housing, energy, and food purchased in the year(s) 2017, 2018, and 2019 in Macroland. Show your work. The base year 2018. Price in 2017 Price 2018 Price 2019 Housing $22,000.00 $22,500.00 $28,000.00 Energy $20,000.00 $21,000.00 $21,200.00 Food $12,000.00 $12,600.00 $13,000.00 a. Calculate the CPI (Consumer Price Index) for 2018. Please interpret the result. b. Calculate the CPI for 2019. Please interpret the result. с. What is the inflation rate between 2017 and 2018? 6. d. What is the inflation rate between 2017 and 2019? е. What is the inflation rate between 2018 and 2019? f. Calculate the growth rate of the price of housing from 2017 to 2018. g. Comparing housing and food, which is relatively more expensive, 2017 or 2018? Why?
Use the following consumer data for housing, energy, and food purchased in the year(s) 2017, 2018, and 2019 in Macroland. Show your work. The base year 2018. Price in 2017 Price 2018 Price 2019 Housing $22,000.00 $22,500.00 $28,000.00 Energy $20,000.00 $21,000.00 $21,200.00 Food $12,000.00 $12,600.00 $13,000.00 a. Calculate the CPI (Consumer Price Index) for 2018. Please interpret the result. b. Calculate the CPI for 2019. Please interpret the result. с. What is the inflation rate between 2017 and 2018? 6. d. What is the inflation rate between 2017 and 2019? е. What is the inflation rate between 2018 and 2019? f. Calculate the growth rate of the price of housing from 2017 to 2018. g. Comparing housing and food, which is relatively more expensive, 2017 or 2018? Why?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Please answer d e and f
Transcribed Image Text:Inflation Question
Use the following consumer data for housing, energy, and food purchased in the year(s) 2017, 2018, and
2019 in Macroland. Show your work. The base year 2018.
E E E
Price in 2017
Price 2018
Price 2019
Housing
$22,000.00
$22,500.00
$28,000.00
Energy
$20,000.00
$21,000.00
$21,200.00
Food
$12,000.00
$12,600.00
$13,000.00
а.
Calculate the CPI (Consumer Price Index) for 2018. Please interpret the result.
b.
Calculate the CPI for 2019. Please interpret the result.
с.
What is the inflation rate between 2017 and 2018?
6
d.
What is the inflation rate between 2017 and 2019?
II
е.
What is the inflation rate between 2018 and 2019?
f.
Calculate the growth rate of the price of housing from 2017 to 2018.
g.
Comparing housing and food, which is relatively more expensive, 2017 or 2018? Why?
...
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