Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. If the CPI in a country is 164.7 in 2018, 176 in 2019, and 195 in 2020 what is the inflation rate for this

1. If the CPI in a country is 164.7 in 2018, 176 in 2019, and 195 in 2020 what is the inflation rate for this country in the year 2019?Please round your answer to two decimal places and do not include the percentage sign (%) in your answer. For example, if your answer is 28.547%, you would enter 28.55.

2. Assume the average hourly wage in 1990 was $15 and CPI in the country is 151.16 in 1990 and 210.83 in 2010. What is the value of the 1990 hourly wage in 2010 for this country? Please round to the nearest two decimal places and do not include the dollar sign ($). For example, an answer of $68.754 would be entered as 68.75.

3. You're given some information about an economy. If the current unemployment rate is 6.1%, the nominal interest rate is 5.94%, and the inflation rate is 1.46%, what is the real interest rate in this economy? Please round to the nearest two decimal places and do not include the percentage sign (%) in your answer. For example, if your answer is 34.652% you would enter 34.65.

4. If the nominal interest rate in an economy is always constant at a rate of 13.34% and the CPI for the same economy is 246.41 in 2018 and 268.08 in 2019, what is the real interest rate for this economy in the year 2019? Please enter your answer rounded to the nearest two decimal places and do not include the percentage sign (%). For example, if your answer is 1.258%, you would enter 1.26.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: N Gregory Mankiw

9th Edition

1464182892, 9781464182891

More Books

Students also viewed these Economics questions

Question

What is the purpose of an IS Strategic Plan?

Answered: 1 week ago

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago