Need help with Macroeconomic review question! 2. In the future, “you will owm nothing and you will be happy."Jack is a lowly office worker in 2030, and represents the typical consumer. He onlyspends his money on three items: his daily food cube (which provides all of the necessarymacronutrients and calories for the day in the palm of your hand!), Uber rides, and renton his 250 square foot apartment (which is sometimes used as a meeting space and lovehotel).Jack's annual consumption is 365 food cubes, 600 Uber rides, and 12 rental payments.Let 2029 be the base year, and assume that the CPI for 2030 is 150.YearPrice of Food CubePrice of Uber RidePrice of Rental Payment2030$15$30$665$20$40$1,000$3,330$10,00020312032$25$402033$30$35(a) Calculate the CPI for 2031, 2032, and 2033. Show your work.(b) Now let 2030 be the base year. Calculate the CPI for 2031, 2032, and 2033. Showyour work.

a) CPI =(price in the current year/ price in the base year)*100 It is given that the CPI for the…

Answered: Jack is a lowly office worker in 2030,…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 4PA

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