Calculate the inflation rate experienced in 2014 and 2015 based on the CPI for each year below: Year CPI (as of December 31 of the year) Inflation rate (%) 2013 124.5 Not applicable for 2013 2014 125.2 ? 2015 127.5 ?
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Calculate the inflation rate experienced in 2014 and 2015 based on the
|
Year |
CPI (as of December 31 of the year) |
Inflation rate (%) |
|
2013 |
124.5 |
Not applicable for 2013 |
|
2014 |
125.2 |
? |
|
2015 |
127.5 |
? |
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- The following table shows the typical market basket consumed in an economy as well as data on price for years 2001 to 2003. Use this table to calculate the inflation rate between 2001 and 2002. 2003 is the base year. Price in year Price in year Price in Year Items Quantities 2001 2002 2003 Pizza $10 $20 $0.50 $12 $25 $0.55 $11 $26 $1 10 T-shirts 10 Candy 100The country of Panem produces only bow and arrow. Quantities and prices of these goods for the last several years are shown below. The base year is 2010. Prices and Quantities Price of Bow Quantity of Price of Quantity of Bow Year Arrow Arrow 2010 $10.00 200 $3.50 380 2011 $10.00 220 $5.00 400 2012 $11.00 250 $5.50 400 2013 $12.00 280 $6.50 440 What is the inflation rate in 2011? 8.79% 12.92% 16.67% None of the aboveUse the information below to: a) compute the price index for each year using 2019 as the base year. b) compute the inflation rate between the two years. Item Quantity Unit Price-2018 Unit Price-2019 Coffee 20 pounds $7.00 $8.00 Rent 12 months 950.00 1,000.00 Pizza 100 pizzas 12.00 14.00 Cable 12 months 55.00 60.00 Vacation 2 weeks 550.00 600.00
- Using the following information, calculate the inflation rate Year Price Quantity Price Quantity 2015 50 120 15 200 2016 52 130 18 205 2017 55 125 20 210Suppose the CPI base 100 - 2002 in 2013 is equal to 122.2. What is the average annual inflation rate between 2002 and 2013? Use the exact formula and express your answer in percentage rounded to the nearest first decimal.Assume that the retail price index (RPI) for the UK was 100 in January 1950 and 3246 in January 2015. Calculate the average annual inflation rate.
- Price of wine Price of coffee 2021 $5 $5 2022 $9 $6 Assuming that wine and coffee consumption are fixed as 10 wine and 20 cups of coffee. Calculate the inflation rate between 2021 and 2022. (Note: the cost of the basket in the base year is 120) 40% 35% 22.5% 28%a) Find the inflation rate in 2010, if the 2009 is the base year? b) Find the increase in the cost of living between 2010 and 2011?Question 14 Refer to the information provided in Table 22.6 below to answer the question(s) that follow. Table 22.6 Price per Unit in 2014 Units Purchased 5. 2015 2016 $1.00 $2.00 $4.00 $1.50 $2.50 $1.50 $3.00 Good A Good B 10 Good C $4.50 $5.00 Refer to Table 22.6. If 2014 is the base year, the inflation rate between 2014 and 2016 is 40.2%. 28.7%. 25.1%. 17.4%.
- Henrique is a baseball fan and attends several games per season. His expenses per season are listed in the table below: Year 1 Year 2 5 Baseball Tickets $500 $600 Jersey $100 $120 Food $150 $150 Transport $50 $80 Calculate the inflation rate for Henrique's baseball season between year 1 and 2.(a) A "market bundle" for a typical family is deemed to be 5 burgers, 3 Pattie's and 4 pizzas. Compute the CPI for each of the three years, using 1990 as the base year. (b) What was the rate of inflation from 1990 to 2000, using the CPI you calculated in (a).Suppose the basket of goods used for a Canadian university student price index consists of 2 terms of full-time study and 4 textbooks. Prices of the goods by year are as follows: Year Full-time tuition for Price of One one term Textbook 2018 $3,605 $115 2019 $3,631 $139 2020 $3,924 $189 a) Using 2018 as the base year, compute the university student price index for 2018, 2019 and 2020, and the inflation rate between 2018 and 2019, and between 2019 and 2020. b) Suppose that all university textbooks were produced in the United States. Would Canada's GDP Deflator increase more, less or the same rate as the student price index (based only on these two goods)?