Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021 2560 Use the information in Table 3-2 to measure the consumer price index for 2019, 2020 and 2021 respectively. Show your calculations and round off to two decimal places.
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| Year | Cost of basket (R) of consumer goods / services |
| Base Year 2018 | 1850 |
| 2019 | 2190 |
| 2020 | 2380 |
| 2021 | 2560 |
Use the information in Table 3-2 to measure the
for 2019, 2020 and 2021 respectively.
Show your calculations and round off to two decimal places.
Step by step
Solved in 2 steps
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- Please help with the calculation on how to calculate the LASTyped and correct answer please. Consider the data shown below for the Canadian Consumer Price Index (CPI), drawn from the Bank of Canada's website. a. Compute the missing data in the table. (Round your responses to one decimal place.)Please provide a trend analysis for the GDP in Jamaica for the last 5 years and provide primary reasons for growth or decline. Please include stats to back up information provided
- The economy of country Y produces 5 commodities; rice, salted fish, sugar, salt, and oil. The following table shows the outputs and prices for year 2000, 2001 and 2002. Instructions calculate Paasche consumer price index for 2001 and 2002 using 2000 as base year!(8) The consumer price index using a __________________________ __________________________ __________________________ __________________________ __________________________ to calculate the index value.Please kindly provide the ste by step how to calculate A
- The basket of goods in the Consumer Price Index consists ofabout _________ products; that is, several hundred specific products in over__________ broad-item categories. a)800; 200 b)80,000; 400 c)200; 800 d)80,000; 200The economy of country Y produces 5 commodities; rice, salted fish, sugar, salt, and oil. The following table shows the outputs and prices for year 2000, 2001 and 2002. Instructions calculate Laspeyres consumer price index for 2001 and 2002 using 2000 as base yearYear Waffles(Quantity) Waffles(Price) Orange Juice(Quantity) Orange Juice(Price) Toaster Ovens(Quantity) Toaster Ovens(Price) 2010 1000 $0.80 400 $4 280 $22 2011 1200 $0.90 410 $5 300 $25 2012 1500 $1 420 $6 300 $28 The above, like I said, is production data. Consumption data is as follows: the average citizen consumes 80 waffles, 20 units of orange juice and 10 toaster ovens. 2010 is the base year for all calculations. Carefully following all directions for entering your answer, tell me the cost (price) of the market basket for 2011. Carefully following all directions for entering your answer, calculate the inflation rate, using the CPI, for 2011-2012. Carefully following all directions for entering your answer, calculate the inflation rate, using the CPI, for 2011-2012. Carefully following all directions for entering your answer, calculate the GDP deflator for 2011 for this economy.