Assignment 6 Chapter 91.Assignment 6Base Week - Week 1WeekGoodQuantity34.Cereal$2.50$2.65$2.75$2.45$2.60Milk$2.50$2.75$2.75$3.00$3.25Oranges$0.25$0.30S0.35S0.40S0.50Apple Juice1$3.00$3.50$3.00$3.50$3.00Cost of Mkt BasketCPIInflation2. Name 2 reasons why the CPI underestimates the true Inflation Rate?Assignment 7 Chapter 11Price Level (CPI)ADASPotential GDP220120400250210140350250200160300250190180250250180200200250170220150250160240100250150260502501. What is the equilibrium price and quantity for this economy?2. Is this economy operating Above or Below Potential Output? What is the GDPGap? (Actual GDP - Potential GDP)

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Assignment 6 Chapter 9. 1. Assignment 6 Base Week-Week 1 Week Good Quantity 3. 4. Cereal 1. $2.50 $2.65 $2.75 $2.45 $2.60 Milk $2.50 $2.75 $2.75 $3.00 $3.25 Oranges $0.25 S0.30 S0.35 S0.40 S0.50 Apple Juice $3.00 $3.50 $3.00 $3.50 $3.00 Cost of Mkt Basket CPI Inflation

Assignment 6 Chapter 9. 1. Assignment 6 Base Week-Week 1 Week Good Quantity 3. 4. Cereal 1. $2.50 $2.65 $2.75 $2.45 $2.60 Milk $2.50 $2.75 $2.75 $3.00 $3.25 Oranges $0.25 S0.30 S0.35 S0.40 S0.50 Apple Juice $3.00 $3.50 $3.00 $3.50 $3.00 Cost of Mkt Basket CPI Inflation

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Assignment 6 Chapter 9
1.
Assignment 6
Base Week - Week 1
Week
Good
Quantity
3
4.
Cereal
$2.50
$2.65
$2.75
$2.45
$2.60
Milk
$2.50
$2.75
$2.75
$3.00
$3.25
Oranges
$0.25
$0.30
S0.35
S0.40
S0.50
Apple Juice
1
$3.00
$3.50
$3.00
$3.50
$3.00
Cost of Mkt Basket
CPI
Inflation
2. Name 2 reasons why the CPI underestimates the true Inflation Rate?
Assignment 7 Chapter 11
Price Level (CPI)
AD
AS
Potential GDP
220
120
400
250
210
140
350
250
200
160
300
250
190
180
250
250
180
200
200
250
170
220
150
250
160
240
100
250
150
260
50
250
1. What is the equilibrium price and quantity for this economy?
2. Is this economy operating Above or Below Potential Output? What is the GDP
Gap? (Actual GDP - Potential GDP)

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