Calculate the CPI and the inflation rate in 2014. The people on Coral Island buy only juice
Question:
Calculate the CPI and the inflation rate in 2014.
The people on Coral Island buy only juice and cloth. The CPI basket contains the quantities bought in 2013. The average household spent $60 on juice and $30 on cloth in 2013 when juice was $2 a bottle and cloth was $5 a metre. In 2014, juice is $4 a bottle and cloth is $6 a metre.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
Calculation The CPI 4 ...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Microeconomics Canada In The Global Environment
ISBN: 9780321931184
9th Edition
Authors: Robin Bade, Michael Parkin
Question Posted:
Students also viewed these Business questions
-
The people on Coral Island buy only juice and cloth. The CPI market basket contains the quantities bought in 2016. The average household spent $60 on juice and $30 on cloth in 2016 when the price of...
-
Calculate the CPI and the inflation rate in 2010. The people on Coral Island buy only juice and cloth. The CPI basket contains the quantities bought in 2009. The average household spent $60 on juice...
-
A typical family on Sandy Island consumes only juice and cloth. Last year, which was the base year, the family spent $40 on juice and $25 on cloth. In the base year, juice was $4 a bottle and cloth...
-
Show that the ratio of the angular speeds of a pair of coupled gear wheels is in the inverse ratio of their respective radii.
-
What can organizations do to promote ethical conduct from their members?
-
Goose down is used in a wide variety of products, including jackets, bedding, and pillows. In recent years, the cost of down has been increasing. For example, in 2009, a pound of goose down sold for...
-
Identify documents to store in home files, safe-deposit boxes, or on a computer.
-
Christopher City received a contribution of $520,000 to provide scholarships to the children of deceased city employees. The donor stipulated that all income, including both realized and unrealized...
-
During the credit crisis, U.S. interest rates were extremelylow, which enabled businesses to borrow at a low cost. Holdingother factors constant, this should result in a higher number offeasible pr 1...
-
Assume we design a new client-server application program that requires persistent connection. Can we use UDP as the underlying transport-layer protocol for this new application?
-
Calculate the inflation rates for the years ended June 2009 and June 2010. How did the inflation rate change in 2010? Statistics Canada reported the following CPI data: June 2008 217.3 June 2009...
-
An exodus of discouraged searchers from the job market kept the unemployment rate from climbing above 10 percent. Had the labour force not decreased by 661,000, the unemployment rate would have been...
-
The stockholders' equity accounts of Castle Corporation on January 1, 2019, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized).............$ 400,000 Common Stock ($1...
-
1. An example of a perverse incentive, or the "law of unintended consequences" is currently happening at my place of work. Our team is responsible for the purchasing and management of parts within...
-
2. (10 points) You invest $15,000 in an account that compounds continuously at 6.75% for 5 years. (a) What is the future value A(t) in the account after the 5 years? Write the formula for this...
-
In early 2021 a retail chain of videogame stores called GameStop became a main financial news story when a group of retail-level day traders (many of whom were young videogamers), congregating on the...
-
Your client has contributed $3,000 to her RRSP at the beginning of every three months for the past 17 years. The RRSP has earned 8.8% compounded quarterly. What is the value today?
-
A suitcase is pulled 26 feet along a flat sidewalk with a constant upward force of 80 lb at an angle of 23 with the horizontal. Calculate the work done. The work done is foot-pounds. (Round to the...
-
What would be the effect on the optimal solution in Problem 2 if the cost of rice increased from $0.03 per ounce to $0.06 per ounce?
-
A circular concrete shaft liner with Youngs modulus of 3.4 million psi, Poissons ratio of 0.25, unconfined compressive strength 3,500 psi and tensile strength 350 psi is loaded to the verge of...
-
Distinguish between a firm's explicit costs and its implicit costs and between a firm's accounting profit and its economic profit.
-
Provide two examples of a monetary incentive and two examples of non-monetary incentive, a carrot and a stick of each that government policies use to influence behavior. You are welcome to choose any...
-
Provide two examples of a monetary incentive and two examples of non-monetary incentive, a carrot and a stick of each that government policies use to influence behavior. You are welcome to choose any...
-
Homework: Pricing Strategies Assignment i Saved Help Save & Exit Sub 10 You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value ...
-
Family Corporation declared a 30% stock dividend on 400,000 shares of $5 par value common stock outstanding. Market price per common share on this date was $10. What is the amount of retained ea...
-
L Limited acquired an item of equipment on 1 July 2019 for $105000. The estimated useful life of the equipment at the acquisition date was 5 years and the residual value was $5000. The company sold...
Study smarter with the SolutionInn App