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- Consumer Price Index SETTINGS 1960 300 280 260 240 220 200 180 160 140 120 100 80 60 40 20 Price Then ($) Price Now ($) GRAPH 1960 Year 1965 1970 1975 Show Transcribed Text 10.00 10.00 1984 1980 Reset 2016 1982-1984 = 100.00 1984 1985 1990 PRICE CALCULATIONS CPI = 105.30 1984 Price Then $10.00 1995 2000 Price Now $4.39 (CPI data not seasonally adjusted. Source: BLS) $22.79 O No, because the real value of her hourly wage has stayed the same. O No, because the real value of her hourly wage has fallen from $27.81 to $25.11. O Yes, because the real value of her hourly wage has risen from $25.11 to $27.81. O Yes, because she is earning more dollars per hour. $10.00 Year 2005 2010 2015 2020 a) How much would a worker have to be paid per hour in 2016 to keep her real wage the same as in 1980 if she earned $10 per hour in 1980? Instructions: Round your answer to two decimal places. $ b) A worker earned $10 a hour in 1980 and $14 an hour in 1990. Using the interactive tool to convert each of…The following graph shows the approximate value of the U.s. Consumer Price Index (CPI) from September 2004 through November 2005. CPI Sep 2004–Nov 2005 I(t) 202 200 198 196 194 192 190 + 188 →t 14 4 8 10 12 Sep-04 Jan-05 Nov-05 The approximating curve shown on the figure is given by I(t) = -0.005t³ + 0.12t2 – 0.01t + 190 (0 sts 14), where t is time in months since the start of September 2004. (a) Use the model to estimate the monthly inflation rate in January 2005 (t = 4). Recall that the inflation rate is I'(t) (Round your answer to three decimal places.) I(t) % (b) Was inflation slowing or speeding up in January 2005? O slowing down O speeding up (c) When was inflation speeding up? When was inflation slowing? (Use the model to determine this.) Inflation was speeding up prior to --Select--- v 2005 and slowing after --Select--- v 2005.The following table shows the typical market basket consumed in an economy as well as data on price for years 2001 to 2003. Use this table to calculate the inflation rate between 2001 and 2002. 2003 is the base year. Price in year Price in year Price in Year Items Quantities 2001 2002 2003 Pizza $10 $20 $0.50 $12 $25 $0.55 $11 $26 $1 10 T-shirts 10 Candy 100
- In 1970 a movie ticket cost US$2.00. Today, a movie tickets costs NZ$15.00 You also have the following data SUS/$NZ CPI 1970 2022 1.10 65 0.60 1122 What is the percentage change in the nominal value of a movie ticket? (Enter the numerical value only - do not include the "%" symbol)Ansume that prices for the items below increaned at the average annual ratos shown in the table. Use the inflation proportion to find the missing price in the last column of the chart Average CPU 184.0 Year 2003 2017 245.1 Year Purchased 2003 Item Price Price in 2017 Evening dress $183 Complete the tuble Item Price Year Purchased Price in 2017 Evening dress (Round to the nearest dollar as needed) $183 2003 Enter your answer in the answer box.Infl. Year CPI Rate 2010 218.1 2011 224.9 3.1% 2012 229.6 2.1% 2013 233.0 1.5% 2014 236.7 ??? 2015 237.0 ??? 2016 240.0 ??? 2017 245.1 ??? a) Calculate the inflation rates for the years 2014-2017. b) Was there disinflation in those years? If so, in which year(s)?
- Typed 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.)Inflation Question Use the following consumer data for housing, energy, and food purchased in the year(s) 2017, 2018, and 2019 in Macroland. Show your work. The base year 2018. E E E Price in 2017 Price 2018 Price 2019 Housing $22,000.00 $22,500.00 $28,000.00 Energy $20,000.00 $21,000.00 $21,200.00 Food $12,000.00 $12,600.00 $13,000.00 а. Calculate the CPI (Consumer Price Index) for 2018. Please interpret the result. b. Calculate the CPI for 2019. Please interpret the result. с. What is the inflation rate between 2017 and 2018? 6 d. What is the inflation rate between 2017 and 2019? II е. What is the inflation rate between 2018 and 2019? f. Calculate the growth rate of the price of housing from 2017 to 2018. g. Comparing housing and food, which is relatively more expensive, 2017 or 2018? Why? ...Use the following urban CPI monthly data in Egypt in year 2022 to answer the questions that follow (Picture attached).Calculate the inflation rate in May 2022 and October 2022. If the CPI in November 2021 was 117.8, calculatethe annual inflation rate.
- Difference between nominal scale and ordinal scaleThe table given below reports the price of soda over four consecutive years.Table 5.7 Price Data Year Base-Year Soda Price Current Soda Price 1 (base year) $0.30 $0.30 2 $0.30 $0.45 3 $0.30 $0.55 4 $0.30 $0.65 Refer to Table 5.7. Compute the price index for the base year.Year Income CPI 2012 2013 62,464 65,692 226.7 230.3 2014 2015 66,899 70,500 233.9 233.7 2016 72,904 236.9 Answer of the following questions using the data in the table above (Show the analysis): a) Provide the adjusted median incomes (convert to 2016 dollars) b) Calculate the mean of the nominal incomes c) Calculate the mean of the adjusted incomes d) Explain the importance of adjusting values for inflation (2-5 sentences)
