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Question 21
Inflation is an increase in the ___
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average hourly wage rate. |
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rate of growth of |
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overall level of economic activity. |
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general price level in the economy. |
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- Sally has a credit card balance of $2,000. The credit card company charges a nominal interest rate of 14 percent a year on unpaid balances. The inflation rate is 5 percent a year. Calculate the real interest rate that Sally pays the credit card company. The real interest rate that Sally pays the credit card company is ____ percent a year.The nominal GDP in the base year was 1000 (billion). After 5 years, the GDP deflator grew 2 times. At the same time, the real GDP increased by 9%. a) Find the GDP in the current year in current prices, and b) determine the amount of money supply necessary for the GDP functioning, if the money circulates 4 times per period?3. Prime Minister Osiris gives you The following table, which shows the quantity (in millions) of each good sold as well as the price (in the Chirpistani currency, the "Cate- Coin" C). Table 1: Chirpistan's Economy 2016 2016 2017 2017 2018 2018 Quantity 10 17 Quantity 22 Good Price Quantity Price 12 Price Kong Toys Chirp Noodles Insulin (Osiris is diabetic) Syringes for Insulin Shots 15 25 3 50 3 51 11 57 80 4 80 13 89 10 4 12 18 31 Shock Collars 15 12 13 19 21 17 Scratching Posts Laser Pointers 11 10 16 10 10 66 66 17 60
- The following table shows a money demand schedule, which is the quantity of money demanded at various price levels ( P ).Fill in the Value of Money column in the following table.Price Level (P) Value of Money (1/P) Quantity of Money Demanded (Billions of dollars)1.00 ______ 1.51.33 _______2.02.00 _______3.54.00 _______ 7.0Now consider the relationship between the price level and the quantity of money that people demand. The lower the price level, the money the typical transaction requires, and the money people will wish to hold in the form of currency or demand deposits.Assume that the Fed initially fixes the quantity of money supplied at $3.5 billion.Use the orange line (square symbol) to plot the initial money supply ( MS1 ) set by the Fed. Then, referring to the previous table, use the blue connected points (circle symbol) to graph the money demand curve.The steps involved in calculating the consumer price index, in order, are as follows: * Choose a base year, fix the basket, compute the inflation rate, compute the basket's cost, and compute the index. Choose a base year, find the prices, fix the basket, compute the basket's cost, and compute the index. Fix the basket, find the prices, compute the basket's cost, choose a base year and compute the index. Fix the basket, find the prices, compute the inflation rate, choose a base year and compute the index.Interpret the table for each year.
- 26. IMPACT OF DEVALUATION The inflation rate in Yinland was 14 percent last year. The government of Yinland just devalued its currency (the yin) by 40 percent against the dollar. Even though it produces products similar to those of the United States, Yinland has much trade with the United States and very little trade with other countries. It presently has trade restrictions imposed on all non-U.S. countries. Will the devaluation of the yin increase or reduce inflation in Yinland? Briefly explain.Question 5 Inflation Suppose that inflation proceeds at a constant rate of 6% per year from mid-2015 through mid-2018. What will be the value of a dollar in mid-2018 in constant mid-2015 dollars? (round to 4 decimal places)Suppose there are 1200 units of money on an island, but money grows by 5.32% per year. Islanders spend each unit of money 2.3 times per year on average and this spending grows by 1.98%. The price level is at 34. GDP is expected to grow at 4.83%. What is the level of inflation? Answer this as a percentage without the percentage sign and round this to two digits after the decimal. ex. If you found the rate to be 5.125%, answer 5.13.
- If banks expect that the rate of inflation in the coming year will be 4.95% and they want a real return of 8.5% on a certain category of loans, then the nominal rate they should charge borrowers on those loans is ____%is these totals inflation, deflation, disinflation or hyperinflation 1992 140.3 1993 144.5 144.5 -140.3=4.2/140.3=0.029 *100 =2.9% 1994 148.2 148.2 -144.5=3.7/144.5=0.025*100 = 2.5%what is ? 1-)Consumer Price Index 2-)Production Price Index 3-)Inflation Rate
