Econ1101 Macro Principles -001 Homework: Homework - Chapter Lindsay Cola &9/26/19 5:20 PM 6 Score: 0.33 of 1 pt Save 13 of 25 (13 complete) Text Problem 9 HW Score: 47.33 %, 11.83 of 25 pts Question Help In addition to the national Consumer Price Index (CPI) discussed in this chapter, the Bureau of Labor Statistics produces several regional CPI indices. These are constructed in the same way as the national CPI, just at a smaller scale: in a given city, researchers gather prices for a bundle of goods every month and then construct an index to track price changes of that bundle within the city. The following table shows the CPI indices (base period 1982-1984 100) for San Francisco-Oakland-San Jose and Los Angeles-Riverside-Orange County, from 2007 to 2014: Year Los Angeles-Riverside-Orange Country San Francisco-Oakland-San Jose 2007 216.048 217.338 2008 222.767 225.008 2009 224.395 223.219 2010 227.469 225.894 2011 233.390 231.928 2012 239.650 236.648 2013 245.023 239.207 2014 251.985 242.434 In 2014, the San Francisco-Oakland-San Jose CPI was 251.985, while the Los Angeles-Riverside-Orange County CPI was 243.434. Using the information given above, which of the following statements is true? OA. Prices are higher in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County. B. Prices have increased more in Los Angeles-Riverside-Orange County than in San Francisco-Oakland-San Jose since the base period. O C. Prices are lower in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County. D. Prices have increased more in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County since the base period. Suppose a San Francisco resident and a Los Angeles resident each make the same nominal wage every year from 2008 to 2014: $63,000.00 a year. percent. ((Use "-" sign if required, and round your Using the table above, the percentage change in real wage in San Francisco from 2008 to 2014 was response to the nearest two decimal places) percent. The percentage change in real wage in Los Angeles from 2008 to 2014 was nter your answer in the edit fields and then click Check Answer. Final Check Clear All l parts showing
Econ1101 Macro Principles -001 Homework: Homework - Chapter Lindsay Cola &9/26/19 5:20 PM 6 Score: 0.33 of 1 pt Save 13 of 25 (13 complete) Text Problem 9 HW Score: 47.33 %, 11.83 of 25 pts Question Help In addition to the national Consumer Price Index (CPI) discussed in this chapter, the Bureau of Labor Statistics produces several regional CPI indices. These are constructed in the same way as the national CPI, just at a smaller scale: in a given city, researchers gather prices for a bundle of goods every month and then construct an index to track price changes of that bundle within the city. The following table shows the CPI indices (base period 1982-1984 100) for San Francisco-Oakland-San Jose and Los Angeles-Riverside-Orange County, from 2007 to 2014: Year Los Angeles-Riverside-Orange Country San Francisco-Oakland-San Jose 2007 216.048 217.338 2008 222.767 225.008 2009 224.395 223.219 2010 227.469 225.894 2011 233.390 231.928 2012 239.650 236.648 2013 245.023 239.207 2014 251.985 242.434 In 2014, the San Francisco-Oakland-San Jose CPI was 251.985, while the Los Angeles-Riverside-Orange County CPI was 243.434. Using the information given above, which of the following statements is true? OA. Prices are higher in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County. B. Prices have increased more in Los Angeles-Riverside-Orange County than in San Francisco-Oakland-San Jose since the base period. O C. Prices are lower in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County. D. Prices have increased more in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County since the base period. Suppose a San Francisco resident and a Los Angeles resident each make the same nominal wage every year from 2008 to 2014: $63,000.00 a year. percent. ((Use "-" sign if required, and round your Using the table above, the percentage change in real wage in San Francisco from 2008 to 2014 was response to the nearest two decimal places) percent. The percentage change in real wage in Los Angeles from 2008 to 2014 was nter your answer in the edit fields and then click Check Answer. Final Check Clear All l parts showing
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Econ1101 Macro Principles -001
Homework: Homework - Chapter
Lindsay Cola &9/26/19 5:20 PM
6
Score: 0.33 of 1 pt
Save
13 of 25 (13 complete)
Text Problem 9
HW Score: 47.33 %, 11.83 of 25 pts
Question Help
In addition to the national Consumer Price Index (CPI) discussed in this chapter, the Bureau of Labor Statistics produces several regional CPI indices. These are constructed in the same way as the national CPI, just at a smaller scale: in a given
city, researchers gather prices for a bundle of goods every month and then construct an index to track price changes of that bundle within the city. The following table shows the CPI indices (base period 1982-1984 100) for San
Francisco-Oakland-San Jose and Los Angeles-Riverside-Orange County, from 2007 to 2014:
Year
Los Angeles-Riverside-Orange
Country
San Francisco-Oakland-San Jose
2007
216.048
217.338
2008
222.767
225.008
2009
224.395
223.219
2010
227.469
225.894
2011
233.390
231.928
2012
239.650
236.648
2013
245.023
239.207
2014
251.985
242.434
In 2014, the San Francisco-Oakland-San Jose CPI was 251.985, while the Los Angeles-Riverside-Orange County CPI was 243.434.
Using the information given above, which of the following statements is true?
OA. Prices are higher in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County.
B. Prices have increased more in Los Angeles-Riverside-Orange County than in San Francisco-Oakland-San Jose since the base period.
O C. Prices are lower in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County.
D.
Prices have increased more in San Francisco-Oakland-San Jose than in Los Angeles-Riverside-Orange County since the base period.
Suppose a San Francisco resident and a Los Angeles resident each make the same nominal wage every year from 2008 to 2014: $63,000.00 a year.
percent. ((Use "-" sign if required, and round your
Using the table above, the percentage change in real wage in San Francisco from 2008 to 2014 was
response to the nearest two decimal places)
percent. The percentage change in real wage in Los Angeles from 2008 to 2014 was
nter your answer in the edit fields and then click Check Answer.
Final Check
Clear All
l parts showing
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