item prices and the amölin 020 are Use 1990 as the base. Item Price (1990 ) Quantity (1990) Price (2020) Quantity (2020) Aluminum (cents per pound) Natural gas (1,000 cu. ft.) Petroleum (barrel) 0.30 1000 0.80 2000 0.20 5000 1.40 8000 3.20 2000 4.20 4000 Determine Fisher's ideal index for price.
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- The table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow. Item Base year 2019 2020 Production Price Production Price Used cloth (units) 4,000 50.00 5000 60.00 Components used tractor factory production 8,000 500.00 11000 1,200.00 Cloth 8,000 25.00 12,000 30.00 Beef gifts during cultural festival 1,500 2.00 1,700 3.00 Milk litres 5,000 1.30 7,000 2.50 Computers 2000 500.00 2,500 600.00 Printers 500 300.00 400 355.00 Raw materials for car assembling plant 4500 250.00 4450 i. Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator ii. Examine the importance of a GDP deflator for Khada RepublicThe table below is extracted from Khada Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow. Item Base year 2019 2020 Production Price Production Price Used cloth (units) 4,000 50.00 5000 60.00 Components used tractor factory production 8,000 500.00 11000 1,200.00 Cloth 8,000 25.00 12,000 30.00 Beef gifts during cultural festival 1,500 2.00 1,700 3.00 Milk litres 5,000 1.30 7,000 2.50 Computers 2000 500.00 2,500 600.00 Printers 500 300.00 400 355.00 Raw materials for car assembling plant 4500 250.00 4450 300 Calculate Khada Republic’s nominal GDP, real GDP in 2020 and GDP deflator 2) Examine the…Textbooks and the Internet Four companies dominate the higher education textbook market: Pearson, McGraw-Hill Education, Cengage, and Wiley. College textbooks can be an expensive addition to the cost of higher education. College textbook prices have increased at a rate of three times inflation since 1977. The current average cost of a college textbook is $175. In recent years, the introduction of online textbooks and opensource materials have disrupted this market and changed some of its characteristics. 1. Do you think the change has a benefit or hurt to society? What will be the effect of the continued expansion of foundations and governments funding opensource texts? How does this change benefit or hurt society?
- (Price Indexes) E-readers and HDTVs have not been part of the U.S. economy for very long. Both goods have been decreasing in price and improving in quality. What problems does this pose for people who are responsible for calculating a price index?Choose the Letter of the Correct Answer 1. It refers to a basic economic question that asks what needs and wants to be produced?. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 2. It refers to the skills and talents to produce a product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 3. It refers to the target market of a certain product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 4. A basic economic question that relates about quality and quantity of the product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 5. It is a kind of economic system that is paternal, kinship in nature. A. Traditional economic system B. Market economic system C. Command economic system D. Mixed economic systemThe table below is extracted from HappylandRepublic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow. Items Base year 2019 2020 Production Price Production Price Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) 8,000 500.00 11,000 1,200.00 Cloth (units) 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) 1,500 2.00 1,700 3.00 Milk (litres) 5,000 1.30 7,000 2.50 Computers (Units) 2,000 500.00 2,500 600.00 Printers (Units) 500 300.00 400 355.00 Raw materials for car assembling plant (Units) 4,500 250.00 4,450 300.00 1. Calculate HappylandRepublic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. 2. Double counting must be avoided when measuring GDP. State and examine…
- The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow. Items Base year 2019 2020 Production Price Production Price Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) 8,000 500.00 11,000 1,200.00 Cloth (units) 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) 1,500 2.00 1,700 3.00 Milk (litres) 5,000 1.30 7,000 2.50 Computers (Units) 2,000 500.00 2,500 600.00 Printers (Units) 500 300.00 400 355.00 Raw materials for car assembling plant (Units) 4,500 250.00 4,450 300.00 Calculate Happyland Republic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. ANSWER: Double counting must be avoided when measuring GDP. State and examine four…The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019-2020. Use the information in this table to answer the questions that follow. Items Base year 2019 2020 Production Price Production Price Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) 8,000 500.00 11,000 1,200.00 Cloth (units) 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) 1,500 2.00 1,700 3.00 Milk (litres) 5,000 1.30 7,000 2.50 Computers (Units) 2,000 500.00 2,500 600.00 Printers (Units) 500 300.00 400 355.00 Raw materials for car assembling plant (Units) 4,500 250.00 4,450 300.00 1.Calculate Happyland Republic’s nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. 2.Double counting must be avoided when measuring GDP. State and examine four (4) transactions…Please no written by hand and no emage Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base. 2010 2018 Fruit Price Quantity Price Quantity Bananas (pound) $ 0.27 100 $ 0.30 110 Grapefruit (each) 0.26 50 0.63 53 Apples (pound) 0.34 85 0.49 85 Strawberries (basket) 1.01 8 2.47 11 Oranges (bag) 0.91 6 1.23 9 a. Determine the simple price indexes. (Round your answers to 2 decimal places.)Bananas,Grapefruit,Apples,Strawberries,Oranges b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.)c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.)d. Determine the Paasche price index. (Round your answer to 2 decimal places.)e. Determine Fisher's ideal index. (Round your answer to 2 decimal places.)
- What does this table show? Table 1: Picture 1 | Table 1. Frequency of consumer price changes CPI excluding promotions: it is a measure of average prices that excludes goods that are subjected to some temporary discount or promotion; Price reversals: they refer to situations where, following a rise or fall in any given price, the subsequent change is anTextbooks and the Internet Four companies dominate the higher education textbook market: Pearson, McGraw-Hill Education, Cengage, and Wiley. College textbooks can be an expensive addition to the cost of higher education. College textbook prices have increased at a rate of three times inflation since 1977. The current average cost of a college textbook is $175. In recent years, the introduction of online textbooks and opensource materials have disrupted this market and changed some of its characteristics. 1. How many buyer and sellers (few or many), type of product, barriers to entry, type of market.Year 2000 2010 Price of an automobile $40, 000 $50, 000 Price of a loaf bread $20 $30 Number of ao=utomobiles produced 100 cars 120 cars Number of loaves of bread produced 600,000 loaves 500, 000 loaves Using the table above calculate: how much have prices risen between the year 2000 and 2010 and comapre the answer given by Laspeyres and Passche price indices
