MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Question
Chapter 2.A, Problem 8QE
(a)
To determine
The type of graph that is used for measuring interest rates.
(b)
To determine
The type of graph that is used to demonstrate median income levels of various ethnic groups.
(c)
To determine
The type of graph that is used to demonstrate total federal expenditure by selected groups.
(d)
To determine
The type of graph that is used to demonstrate the total cost of shoes between 100 and 800 shoes.
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X.The table below is extracted from Goodland Republic Bureau of Statistics records
for 2016 -2017. Use the information to answer the questions that follow.
Goodland Economy 2017 and 2018
Price 2017 (Base year)
Production
Price 2018
Price per Unit ($) Production Price per Unit ($)
55,000
tem
Rice ('000 tons)
Wheat (000 tons)
Tractors mid-size (units)
Cotton (000 tons)
Used cars ('00)
Manufacture garments (000 tons)
Eggs (000 Trays
Coca Cola ('000 litres)
Pepsi Cola ('000 litres)
Beef (000 tons)
Second hand cloths (000 tons)
Alcoholic Beverages ('000 litres)
Milk ('000)
50,000
100,000
1.50
2.00
23,000.00
2.00
98,000
45,000
2.50
24,500.00
50,000
120,000
5,000
150,000
110,000
6,000
100.00
120.00
5,000.00
7,000.00
50.00
145,000
70.00
2,000
6,000
2.50
3.50
2,300
6,500
0.80
1.20
700
1.10
850
1.50
5,000
500
500
7,000
6.50
4,800
8.50
15.00
450
25.00
3.25
600
3.75
2.30
7,500
2.50
Examine the status of the economic welfare in Goodland Republic in 2018 based on
your GDP deflator, nominal GDP and…
The table below details Student A's monthly purchases during 2019 and 2020. Answer the following questions writing out dollars and
cents for monetary values e.g. $1.00, item weights to two decimal places e.g. 0.10, price index values as whole numbers without
decimals, e.g. 110, and percentages to one decimal place e.g. 1.0%.
Hotdogs
Cans of Cola
Chocolate bars
Magazines
Movies
Prices ($)
2019
2.70
1.30
1.00
6.50
6.00
2020
2.80
1.25
1.00
7.50
5.75
Quantities
(# consumed per month)
2020
With 2019 as the base year this index has changed by
2019
2
16
7
3
2
1
18
7
a. The value of Student A's 2019 shopping basket using 2019 prices is $
The item weights associated with this shopping basket are
for magazines, and
for movies.
b. The value of Student A's 2019 shopping basket using 2020 prices is $
If 2019 is used as the base year, the 2020 value of Student A's price index is
2
3
for hotdogs,
for cola,
for chocolate bars,
and the 2019 value of this index is then
% between 2019 and 2020.
subject:economic
Chapter 2 Solutions
MICROECONOMICS
Ch. 2.1 - Prob. 1QCh. 2.1 - Prob. 2QCh. 2.1 - Prob. 3QCh. 2.1 - Prob. 4QCh. 2.1 - Prob. 5QCh. 2.1 - Prob. 6QCh. 2.1 - Prob. 7QCh. 2.1 - Prob. 8QCh. 2.1 - Prob. 9QCh. 2.1 - Prob. 10Q
Ch. 2.A - Prob. 1QECh. 2.A - Prob. 2QECh. 2.A - Prob. 3QECh. 2.A - Prob. 4QECh. 2.A - Prob. 5QECh. 2.A - Prob. 6QECh. 2.A - Prob. 7QECh. 2.A - Prob. 8QECh. 2 - Prob. 1QECh. 2 - Prob. 2QECh. 2 - Prob. 3QECh. 2 - Prob. 4QECh. 2 - Prob. 5QECh. 2 - Prob. 6QECh. 2 - Prob. 7QECh. 2 - Prob. 8QECh. 2 - Prob. 9QECh. 2 - Prob. 10QECh. 2 - Prob. 11QECh. 2 - Prob. 12QECh. 2 - Prob. 1QAPCh. 2 - Prob. 2QAPCh. 2 - Prob. 3QAPCh. 2 - Prob. 4QAPCh. 2 - Prob. 5QAPCh. 2 - Prob. 1IPCh. 2 - Prob. 2IPCh. 2 - Prob. 3IPCh. 2 - Prob. 4IPCh. 2 - Prob. 5IPCh. 2 - Prob. 6IP
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