1)Calculate the consumer price index in the year 2020 & 2021 . 2)Calculate the rate of inflation in year 2021? Numerical problemsSection: CAttempt ALL question.1. Given the Flowing table:CommodityQuantityCopy61.00 RO1.500 ROPen100.200 RO0.200 ROBag25.000 RO6.000 ROPencil50.100 RO0.100 ROBase year 2020.I.Calculate the consumer price index in the year 2020 & 2021.Calculate the rate of inflation in year 2021.II.Price per unit2020Price Per unit2021

Cost of the basket = Quantity of copy * Price of copy + Quantity of pen * Price of pen + Quantity of…

Answered: 1)Calculate the consumer price index in…

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1)Calculate the consumer price index in the year 2020 & 2021 . 2)Calculate the rate of inflation in year 2021?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...

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Question

1)Calculate the consumer price index in the year 2020 & 2021 .

2)Calculate the rate of inflation in year 2021?

Numerical problems
Section: C
Attempt ALL question.
1. Given the Flowing table:
Commodity
Quantity
Copy
6
1.00 RO
1.500 RO
Pen
10
0.200 RO
0.200 RO
Bag
2
5.000 RO
6.000 RO
Pencil
5
0.100 RO
0.100 RO
Base year 2020.
I.
Calculate the consumer price index in the year 2020 & 2021.
Calculate the rate of inflation in year 2021.
II.
Price per unit
2020
Price Per unit
2021

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