The table shows a consumer expenditure survey in Sparta, where people buy only juice and cloth. Calculate the cpi market basket and the percentage of the
... [Show More] average household budget spent on juice and the reference base year.
In 2015, the average household spent $80 on juice and $54 on cloth. The price of juice was $5 a bottle, and the price of cloth was $9 a yard. In 2016, the price of juice is $3 a bottle and the price of cloth is $7 a yard.
The cpi market basket is ___ ____ and ___ ___
The percentage of the household budget spent on juice in the reference base year is ___
11 bottles of juice; 5 yards of cloth
32.8%
Imagine that you were given $1000 to spend in total that you must spend it all buying items from this year's catalog. But you do have a choice of cattle on. You may select from the 1903 catalog or from the Sears.com today. You will pay the price is quoted in the catalog that you choose.
The ___ bias in the cpi is relevant to your choice of catalog
New goods buyers and the quality change
I consumer expenditure survey and Sparta shows that people buy only juice and cloth. Intothousand15, the year of the consumer expenditure survey and also the reference based year, the average household spent $32 on juice and $24 on cloth. The price of juice in 2015 was four dollars a bottle, and the price of cloth was $6 a yard. In 2016, juice is $5 A bottle and cloth is $4 a yard. Calculate the cpi in 2016 and the inflation rate between 2015 and 2016.
The CPI in 2016 is ___
Inflation rate between 2015 and 2016 is ___ percent
147.6
47.6
The US CPI fell 0.1% in December 2015. The price of gasoline fell by 3.9%. Rents increased 0.2%. Medical care costs increased 0.1%.
Did the United States experience inflation or deflation in December 2015? Which of the items mentioned in the news clips has the highest weight in the US cpi basket and which has the lowest weight.
The United States experienced ___ in December 2015 because ___
Of the items measured in the news clip, ___ has the highest weight in the cpi and ___ has the lowest weight in the CPI.
Deflation; the CPI decreased
Rents; medical care
The table shows the CPI in Ecotopia.
Year. CPI.
2010. 100
2011. 173
2012. 404
Calculate the inflation rates in 2011 and 2012. Did the CPI rise or fall in 2012? Did the inflation rate increase or decrease in 2012.
Ecotopia's inflation rate is 2011 was 73%
Ecotopia's inflation rate in 2012 was 133.5%
In 2012, Ecotopia's CPI increased and its inflation rate increased
In Canada, the reference base period for the cpi is 2002.
By 2014, prices had risen by 25.2% since the last base period.
The inflation rate in Canada in 2015 was 1.1%
Calculate the cpi in Canada for 2015
The CPI in Canada in 2015 is ___
126.6
In Brazil, the reference base period for the CPI is 2000.
By 2005, prices has risen by 51% since the base period. The inflation rate in Brazil on 2006 was 10%, and in 2007, the inflation rate was 9%.
Calculate the CPI in Brazil in 2006 and 2007. Brazil's CPI in 2008 was 173. Did Brazil's inflation rate increase or decrease in 2008?
The CPI in Brazil for 2006 is ___
The CPI in Brazil for 2007 is ___
Brazils inflation rate ___ in 2008
166.1
181.1
Decreased
The cost of her CPI market basket in week 2 is $___
$92.5
The cost of Susie's CPI market basket in Week 1 is $___
97.5
Gasoline is ___% of the CPI market basket
38.5%
The value of Susie's CPI in Week 2 is ___
94.9
Susie's inflation rate in week 2 is ___%
-5.1%
Falling oil prices pushed the CPI down 0.1 percent in December 2015. Energy prices fell 2.4% and the price of gasoline fell by 3.9%
Given the further information that the weight on energy prices in the CPI is down. Y 8%, by how much would the CPI have changed in December 2015 if energy prices had not changed?
If energy prices had not changed, the CPI in December 2015 would have ___
Increased by 0.09 percent
Falling oil prices pushed the CPI down 0.1 percent in December 2015. Energy prices fell 2.4% and the price of gasoline fell by 3.9%
Given that energy prices are 8% of the CPI basket, by what percentage did the prices of other items in the CPI basket change?
Given the fall in energy prices, the prices of the other items in the CPI basket must have ___
Risen by less than the fall in energy prices [Show Less]