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b. What is the CPI inflation rate from 2020 – 2021 and 2021 - 2022? What does it
mean?
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- Rosalie the Retiree knows that when she retires in 16 years, her company will give her a one-time payment of 20,000. However, if the inflation rate is 6 per year, how much buying power will that 20,000 have when measured in todays dollars? Hint: Start by calculating the rise in the price level over the 16 years.Compute the inflation rate for fruit prices from 2001 to 2004.the function l (t) = -0.2t3 +3t2 +100 for 0<= y<= 9 gives the CPI of an economy, where t =0 corresponds to the beginning of 2016. Calculate the inflation rate at the beginning of 2022 (t=6)
- Year Quantity of bubble tea Price of bubble tea Quantity of kangaroo steaks Price of kangaroo steaks 20162016 1010 $4dollar sign, 4 55 $8dollar sign, 8 20172017 1210 $6dollar sign, 6 65 $12dollar sign, 12 20182018 1510 $5dollar sign, 5 65 $10 For the above economy where only bubble tea and kangaroo steaks are traded, what is the inflation rate for 2017 using 2016 as a base year? Group of answer choices 100% 75% 180% 150%Use the information below to: a) compute the price index for each year using 2019 as the base year. b) compute the inflation rate between the two years. Item Quantity Unit Price-2018 Unit Price-2019 Coffee 20 pounds $7.00 $8.00 Rent 12 months 950.00 1,000.00 Pizza 100 pizzas 12.00 14.00 Cable 12 months 55.00 60.00 Vacation 2 weeks 550.00 600.00The table below applies to an economy with only two goods -hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. Year 2009 Hamburgers $5.50 Hot dogs $3.00 Year 2010 Hamburgers $5.50 Hot dogs $3.30 Year 2011 Hamburgers $5.61 Hot dogs $3.63 If the base year is 2009 what is the inflation rate for the economy in 2010 and 2011?
