What index is used to measure the average prices paid by a typical family?An average of the prices of the goods and services purchased by a typical family is the:O A. inflation rate index.OB. producer price index (PPI).O C. aggregate price level indexO D. consumer price index (CPI).Suppose the economy's consumer price index (CPI) in 2008 was 190 and the CPI in 2009 was 201The inflation rate over the period from 2008-2009 was equal to %. (Enter your response rounded to one decimal place.)O Time RemailType here to search52°F16立

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ning Time: 09 minutes, 39 seconds. tion Completion Status: O E. frictional, cyclical, and structural unemployment. QUESTION 6 Suppose an individual earned a salary of $12,000 in 1970. If the CPI was 38.8 in 1970 and 258.8 in 2020, then the value of this individual's salary in 2020 dollars is approximately O A. $80,041. O B. $71,456. OC. 593,381. O D.$1,799. O E. $60,398. QUESTION7 If real GDP remains constant we know for sure that O A. output has declined. O B. output has risen but prices have remained constant. O C. prices have remained constant. O D. output has remained constant. O E. output has risen. QUESTION 8 All of the following factors have contributed to the rapid expansion of international trade since the 1980s, except for O A. progress in communications. O B. trade agreements. Click Save and Submit to save and submit. Click Save All Answers to save all answers.
Suppose banks require a real interest rate of 6 percent. If they expect inflation to be 3 percent, what is the nominal interest rate? Multiple Choice O 9 percent O 3 percent 18 percent 2 percent $ % alo5 54 #3 72 M E R & 28 7 田 8 #8 6 T Y U 1 t
The output produced in bushels and the prices of this output ($/bushel) over the last three years for Seth Johnson, a farmer in Amarillo, Texas, are as follows: Year Output (bushels) Price ($/bushel) 2010 70,000 $3.20 2011 75,000 $2.90 2012 80,000 $3.50 Let the base year be 2011. What is the price index for 2012? Select one: O a. 1.094 O b. 0.829 O c. 1.207 O d. 0.914 e
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20) You know that a candy bar costs sixty OMR today.You also know the CPI for 1970 and the CPI for today.Which of the following would you use to compute the price of the candy bar in 1970 prices? Select one: O a. sixty OMR(today's CPI-1970 CPI) O b. sixty OMR(1970 CPI / today's CPI) O c. sixty OMR(1970 CPI-today's CPI) O d. sixty OMR(today's CPI / 1970 CPI)
The number of the employed in a country is 55 million; the number of the unemployed is 5 million and those not in the labor force is 40 million. The labor force participation rate in this country is 40% O 50% O 20% O 60% A consumer price index of 100 in 2020 with a base year of 2019 would mean that the cost of the market basket fell (in terms of its opportunity cost) from the cost of the market basket in 2019 O fell 100% from the cost of the market basket in 2019 O rose 100% from the cost of the market basket in 2019 O rose 0% from the cost of the market basket in 2019
"If the consumer price index was 102 in the base year and 117 in the following year, the inflation rate was" O 15 percent. 14.7 percent. 7 percent. O 1.07 percent.

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