56. The following table shows the prices of three products: water bottles, calculators, and markers. Assume that
Question:
56. The following table shows the prices of three products: water bottles, calculators, and markers. Assume that the average urban family of four consumes 29 blankets, 7 headphones, and 15 sunglasses per year. Answer the question below:
If 2017 is the base year, what is the CPI for 2018? Please round to the nearest two decimal places.
2017 Price | 2018 Price | |
Blankets | 1.07 | 1.4 |
Headphones | 16.4 | 18.27 |
Sunglasses | 2.28 | 2.25 |
The CPI in a country is 108.06 in 1985 and 258.02 in 2020. Assume the price of a movie ticket in 1985 was $2.75. Only adjusting for inflation, what would the price of a movie ticket be in the country in 2020? Please round to two decimal places and do not include the dollar sign ($) in your answer.
If the nominal interest rate in an economy is always constant at a rate of 9.74 and the CPI for the same economy is 187 in 2017 and 195 in 2018, what is the real interest rate for this economy in the year 2018? Please round to two decimal places and do not include the percentage sign (%) in your answer.