Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 23, Problem 1SPPA
To determine
To calculate:
The
Expert Solution & Answer
Explanation of Solution
The CPI in 2014 is 25.2% which is CPI1, and the inflation rate in 2015 is 1.1%. Therefore, with the execution of these figures in the following equation, CPI for 2015 can be found (CPI2).
Substituting the values,
Therefore, the CPI in 2015 is 25.8%.
Economics Concept Introduction
Consumer price index:
Consumer price index is a measure to check the changes in the price levels, where prices of the basket of goods and services are measured against the base year.
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In Brazil, the reference base period for the CPI is 2000.
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Calculate the CPI in Brazil in 2006 and 2007. Brazil's CPI in 2008 was 173. Did Brazil's inflation rate increase or decrease in 2008?
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Year
CPI
1992
1.40
1993
1.45
1994
1.48
1995
1.52
1996
1.57
Please enter your answers as percentages rounded to the nearest tenth of a percent (ie. if your
answer in your calculator is 0.02644 enter your answer as 2.6 or 2.6% not 3%, 2.644, or 0.026).
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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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