• Calculate the CPI for 2013 (using 1 decimal place). • Calculate the inflation rate for 2012 using the CPI (using 1 decimal place). % • Calculate the inflation rate for 2013 using the CPI (using 1 decimal place). %
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- Give typing answer with explanation and conclusion Which of the following illustrates goods markets? A. Maggie took an educational loan of $10,000. Safeway sells milk at $4.35 a gallon. B. Anna got a job with a public firm. Smith wants to take a vacation in December. C. Walmart sells potatoes at $2.14 a pound. Ann bought a new condo for $200,000. D. Banks have raised interest rates to 2.5 percent. Ryan enjoys playing chess.Suppose that a hypothetical “consumer market basket” consists only of Goods B and C, in the quantity: B = 10 and C = 6. As in question #1, use 2021 as a base year (i.e., 2021 = 100). Year 2020 Year 2021 Year 2022 Quantity of Good A 10 12 14 Price of Good A $0.50 $1.00 $1.50 Quantity of Good B 3 6 9 Price of Good B $1.00 $2.00 $3.00 Quantity of Good C 20 20 20 Price of Good C $0.25 $0.25 $0.25 If an individual’s nominal income rises 50%, what is the…In Happy Claptown, there are only 3 goods: Burgers, Patties, and Pizza. The following table shows the prices and quantities produced of these goods in 1990, 2000, and 2010: 1990 1990 2000 2000 2010 2010 Price Quantity Price Quantity Price Quantity Burgers 2.00 500 1.00 600 1.10 690 Patties 7.00 300 10.00 200 10.50 110 Pizza 0.70 300 4.00 200 0.75 420 a) A "market bundle" for a typical family is deemed to be 5 burgers, 3 patties, and 4 pizzas. Compute the consumer price index (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)?
- Please help with questions D & E: Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150, $170 Number of houses produced 1,000 Number of pairs of shoes 650,000, 525,000 (a) What is the Consumer Price Index (CPI)? (b) Calculate the CPI for both years. (c) Calculate the rate of inflation for 2001 using the CPI. (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001 using the GDP deflator. Please help with questions D & E only.Learning Activity 9.2 Question 2 Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000 525,000 (a) What is the Consumer Price Index (CPI)? (b) Calculate the CPI for both years. (c) Calculate the rate of inflation for 2001 using the CPI. (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001 using the GDP deflator.Suppose that we are in a small, local economy that produces three goods. They are: (i) Food, (ii)Gas, and (iii) Housing. The prices for reach of these goods from 2019-2022 are:Good 2019 Price 2019 Quantity 2020 Price 2020 QuantityFood 10 12 14 15Gas 2 2 1.50 1.50Housing 2,000 2,500 2,200 1,800Good 2021 Price 2021 Quantity 2022 Price 2022 QuantityFood 12 15 15 16Gas 3 2 4 2.50Housing 2,300 2,200 2,400 2,3001. Calculate the Nominal GDP for this economy for 2019, 2020, 2021, and 2022. 2. Calculate Real GDP for this economy for 2019, 2020, 2021, and 2022, using the year 2019as the base year. 3. Calculate Real GDP for this economy for 2019, 2020, 2021, and 2022, using the year 2020as the base year. 4. Calculate the Real GDP Deflators for 2021 and 2022 using the Nominal GDPs youcalculated in Q1 and the Real GDPs you calculated in Q3.5. What is the annual inflation rate for 2022 according to the Real GDP Deflators youcalculated in Q4? Now suppose that the Local Government is interested in…
- Imagine that a hypothetical economy produces three items food, clothes and Aluminum and a typical consumer buys food and clothing only. The table below shows the hypothetical results.Question 2 Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000 525,000 (a) What is the Consumer Price Index (CPI)? (b) Calculate the CPI for both years. (c) Calculate the rate of inflation for 2001 using the CPI. (d) Calculate the GDP deflator for both years. (e) Calculate the rate of inflation for 2001 using the GDP deflator. solution for D and EGraph and label as either direct or indirect the relationships you would expect to find between (a) the number of inches of rainfal per month and the sale of umbrellas, (b) the amount of tuition and the level of enrollment at a university, and (c) the popularity of an entertainer and the price of her concert tickets.
- from the table below: price and quantity for three types of products year 2018 price of pencils 0.50 quantity of pencils 200 price of pens 0.70 quantity of pen 150 price of markers 2.20 quantity of markers 70 year 2019 price of pencils 0.80 quantity of pencils 150 price of pens 1.30 quantity of pen 100 price of markers 2.60 quantity of markers 150 year 2020 price of pencils 1.20 quantity of pencils 100 price of pens 2.00 quantity of pen 50 price of markers 3.50 quantity of markers 200 a) Calculate nominal gdp for each year. b) Calculate real Gdp for each year(base year.2018)A newspaper article mentions that two of South Korea’s largest semiconductor manufacturers, - Samsung Electronics Company and Hynix Semiconductor - would suspend all their memory chip production for some time. The article goes on to say that another large semiconductor manufacturer was likely to follow suit. Collectively, these chip manufacturers produce about 30 percent of the world’s basic semiconductor chips. Based on this information, how is the market for computers altered? This answer involves no numerical computation. However, graphs/plots should be used to elaborate your answer. Explain plus make graphs for this answer.JUST PART D PLEASE 3. Suppose an economy consists of Baseball, Seafood, and Technology. To produce one unit of Baseball requires: .2 units of Baseball .4 of units of Seafood .3 units of Technology To produce one unit of Seafood requires: .1 units of Baseball .2 of units of Seafood .5 units of Technology To produce one unit of Technology requires: .3 units of Baseball .1 of units of Seafood .5 units of Technology The consumer demand is: 170 units of Baseball 100 units of Seafood 200 units of Technology A. Define the necessary variables to determine the amount of Baseball, Seafood, and Technology to supply to satisfy manufacturing and consumer demands. B is S is T is B. What are the 3 algebraic equations that relate the amount supplied, amount consumed during manufacturing, and amount demanded by the consumer? C. Express the 3 equations from part B in the equivalent matrix form. D. How much Baseball, Seafood, and Technology must be supplied to meet manufacturing and consumer demands.…