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Name: Homeworks Due: Fri, Mar 25, 12:00pm Read the directions carefully and answer all parts of each question. Write neatly, if i can't read it, it will be counted wrong. You may work in groups, but you must submit your own solution. Any submissions that are word for word identical will receive a score of O. No late homework will be accepted under any circumstances. The table below represents the goods that are produced in Dogtopia. Beef Jerky and bones are used by the citizens of the city. Half of all leashes are used by the canine council, while the rest are used by citizens. Beef is used to produce beef jerky and nothing more. When necessary, use 2020 as the base year. The typical consumer buys 10 bones, 20 beef jerky, and I leash. Use this table for questions 1-6 2018 2019 2020 2021 Beef jerky Bones Leashes Beet Price Quantity Price Quantity Price Quantity Price Quantity $4 100 $5 50 $10 10 $5 45 $4 110 $5 60 $10 20 $5 48 $2 50 $1 30 $9 2 $1 51 $7 180 $9 60 $10 15 $10 62 1. Calculate the basket costs for all years. (6 pts.) 2. Calculate CPI for all years. (4 pts.) 3. Calculate inflation for all adjacent years (6 pts.) 4. In which year was bones the most expensive in real terms? Show work. (5 pts.) 5. What was the real wage for Dogtopia's minimum wage of $8.25 in 2021? (3 pts.) 6. Evaluate Dogtopola's economic health. You must cite results from your previous calculations. (4 pts.) 7. Consider the market for loanable funds and assume that market is in equilibrium. Suppose that the overall income levels increase. Describe the initial effect, how the market adjusts, and how equilibrium is affected. (9 pts.) 8. Consider the market for loanable funds and assume that market is in equilibrium. Suppose that the interest rate on home loans increases. Describe the initial effect, how the market adjusts, and how equilibrium is affected. (9 pts.) 9. What is the net effect on equilibrium of the events of #8 and #9? (4 pts.) Name: Homeworks Due: Fri, Mar 25, 12:00pm Read the directions carefully and answer all parts of each question. Write neatly, if i can't read it, it will be counted wrong. You may work in groups, but you must submit your own solution. Any submissions that are word for word identical will receive a score of O. No late homework will be accepted under any circumstances. The table below represents the goods that are produced in Dogtopia. Beef Jerky and bones are used by the citizens of the city. Half of all leashes are used by the canine council, while the rest are used by citizens. Beef is used to produce beef jerky and nothing more. When necessary, use 2020 as the base year. The typical consumer buys 10 bones, 20 beef jerky, and I leash. Use this table for questions 1-6 2018 2019 2020 2021 Beef jerky Bones Leashes Beet Price Quantity Price Quantity Price Quantity Price Quantity $4 100 $5 50 $10 10 $5 45 $4 110 $5 60 $10 20 $5 48 $2 50 $1 30 $9 2 $1 51 $7 180 $9 60 $10 15 $10 62 1. Calculate the basket costs for all years. (6 pts.) 2. Calculate CPI for all years. (4 pts.) 3. Calculate inflation for all adjacent years (6 pts.) 4. In which year was bones the most expensive in real terms? Show work. (5 pts.) 5. What was the real wage for Dogtopia's minimum wage of $8.25 in 2021? (3 pts.) 6. Evaluate Dogtopola's economic health. You must cite results from your previous calculations. (4 pts.) 7. Consider the market for loanable funds and assume that market is in equilibrium. Suppose that the overall income levels increase. Describe the initial effect, how the market adjusts, and how equilibrium is affected. (9 pts.) 8. Consider the market for loanable funds and assume that market is in equilibrium. Suppose that the interest rate on home loans increases. Describe the initial effect, how the market adjusts, and how equilibrium is affected. (9 pts.) 9. What is the net effect on equilibrium of the events of #8 and #9? (4 pts.)