Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 23, Problem 10SPPA
To determine
To find:
The movie that had the greater real Box Office revenues; ET or TI.
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The following table shows the top 10 films of all time through January 2021, measured by box office receipts in the United States, as well as several other notable films farther down the list.
The CPI in 2020 was 259. Use this information and the data in the table to calculate the box office receipts for each film in 2020 dollars. Assume that each film generated all of its box office
receipts during the year it was released. Use your results to prepare a new list of the top 10 films, based on their earnings in 2020 dollars. (Some of the films, such as the first Star Wars film, Gone
with the Wind, and Snow White and the Seven Dwarfs, were re-released several times, so their receipts were actually eamed during several different years, but we will ignore that complication.)
Fill in the real value of box office receipts in the table below. (Enter your responses rounded to one decimal place.)
Rank
1
2
3
4
5
6
7
8
9
10
18
Part 1 of 2
19
23
117
214
244
397
Film
Star Wars: Episode…
In an imaginary economy, a typical consumer basket consists of 40 candles and 15 lighter. You are given the price of these two products in three subsequent years.
Price of a Candle
Price of a Lighter
$14
$1
$15
$2
$17
$3
2017
2018
2019
Find out the CPI for 2017, 2018, and 2019. Assume the base year is 2017.
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The table shows the cost of a fixed basket of goods that a typical urban consumer would buy in the economy of Kindleberger. The base period for the consumer price index (CPI) is the year 2000. Please specify answers to two decimal places.
Year
Cost of a basket of goods
2000
$5,150.00
2011
$4,500.00
2012
$7,725.00
What is the CPI for 2000?
CPI for 2000:
What is the CPI for 2011?
CPI for 2011:
What is the CPI for 2012?
CPI for 2012:
Chapter 23 Solutions
Foundations of Economics (8th Edition)
Ch. 23 - Prob. 1SPPACh. 23 - Prob. 2SPPACh. 23 - Prob. 3SPPACh. 23 - Prob. 4SPPACh. 23 - Prob. 5SPPACh. 23 - Prob. 6SPPACh. 23 - Prob. 7SPPACh. 23 - Prob. 8SPPACh. 23 - Prob. 9SPPACh. 23 - Prob. 10SPPA
Ch. 23 - Prob. 1IAPACh. 23 - Prob. 2IAPACh. 23 - Prob. 3IAPACh. 23 - Prob. 4IAPACh. 23 - Prob. 5IAPACh. 23 - Prob. 6IAPACh. 23 - Prob. 7IAPACh. 23 - Prob. 8IAPACh. 23 - Prob. 9IAPACh. 23 - Prob. 10IAPACh. 23 - Prob. 1MCQCh. 23 - Prob. 2MCQCh. 23 - Prob. 3MCQCh. 23 - Prob. 4MCQCh. 23 - Prob. 5MCQCh. 23 - Prob. 6MCQCh. 23 - Prob. 7MCQCh. 23 - Prob. 8MCQ
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- Refer to the table (attached image). This country produces only two goods, CDs and books. You are told that the CPI for this country in 2012 was 141. If the base year is 2011, how many books should be present in the basket of goods and services that was used to calculate the CPI? CHOOSE ONE: •A. 68 •B. 78 •C. 60 •D. 84arrow_forwardSuppose the current CPI is 252 and in 2005 it was 196. A pair of Levi’s jeans costs $43 today. Based on the CPIs, what would you expect the 2005 price to have been for the same style of Levis, in a similar retail outlet?arrow_forwardThe table shows the quantities in the CPI basket and the prices in 2018, 2019, and 2020. The reference base year is 2018. Item Quantity 2018 Price 2019 Price 2020 Price Bread 2 loaves $0.50 a loaf $0.75 a loaf $0.75 a loaf Milk 5 cartons $0.75 a carton $1.00 a carton $0.75 a carton Eggs 3 dozen $2.00 a dozen $3.00 a dozen $2.50 a dozen Calculate the cost of the CPI basket in 2019 prices and the cost of the CPI basket in 2020 prices. Calculate the CPI in 2019 and in 2020. Calculate the inflation rate in 2020. The cost of the CPI basket in 2019 prices is $nothing and the cost of the CPI basket in 2020 prices is $nothing. >>> Answer to 2 decimal places. The CPI in 2019 is nothing and the CPI in 2020 is nothing. >>> Answer to 1 decimal place. The inflation rate in 2020 is nothing percent.arrow_forward
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