Homework 4: Tracking the U.S. X MindTap - Cengage Learning X C | Chegg.com Chapter 23 - Measuring a Natic X Dashboard X + C ng.cengage.com/staticb/ui/evo/index.html? deploymentld=58326429524367198800130137&elSBN=9781337915601&id=1567854320&snapshotld=3080673& M Gmail YouTube Maps APA citations MindTap - Cengag... Q Practice Flashcar... S Ling 2000 Fall19... Ling 106 hw 4.pdf course hero C My Overview | Ch... Emily CENGAGE | MINDTAP Q Search this course ? My Home Tracking the U.S. Economy X Courses Back to Assignment Catalog and Study Tools Attempts Keep the Highest / 2 A-Z Rental Options 3. Calculating GDP using national income account data O College Success Tips The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2006, as Career Success Tips published by the Bureau of Economic Analysis. All figures are in billions of dollars. ? Help Give Feedback Fill in the missing cells in the following table to calculate GDP. Components Personal consumption expenditures (C) $9,224.5 bongo Gross private domestic investment (I) $2,209.2 Government consumption expenditures and gross investment (G) $2,523 Exports (X) $1,467.6 Imports (M) $2,229.6 Net exports of goods and services (NX) $ Gross domestic product (GDP) $ This method of calculating GDP, which involves summing the , is called the approach. e It Now Save & Continue Continue without savingX Let C stand fo X C Although GDP X + Homework 4: X MindTap - Cen X C 5. The circular X C | Chegg.com x Q Chapter 23 - | X Dashboard * *Dashboard C ng.cengage.com/staticb/ui/evo/index.html? deploymentld=58326429524367198800130137&elSBN=9781337915601&id=1567854320&snapshotld=3080673& M Gmail YouTube Maps APA citations MindTap - Cengag... Q Practice Flashcar.. S Ling 2000 Fall19... Ling 106 hw 4.pdf course hero C My Overview | Ch... Emily CENGAGE | MINDTAP Q Search this course ? My Home Tracking the U.S. Economy X Back to Assignment Courses Catalog and Study Tools Attempts Keep the Highest / 3 A-Z Rental Options 8. Calculating inflation using a simple price index O Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's annual purchases. Suppose the following College Success Tips table shows information on the market basket for the CSPI and the prices of each of the goods in 2010, 2011, and 2012. Career Success Tips The cost of each item in the basket and the total cost of the basket are shown for 2010. ? Help Give Feedback Perform these same calculations for 2011 and 2012, and enter the results in the following table. 2011 2012 bongo 2010 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 10 3 30 3 4 Calculators 1 75 75 80 104 Large sodas 300 2 600 2 Energy drinks 75 2 150 4 5 Textbooks 8 90 720 110 120 Total cost 1,575 O Price index 100 Suppose the base year for this price index is 2010.Homework 4: X MindTap - Cen X C 5. The circular X C | Chegg.com x Q Chapter 23 - | X Dashboard * *Dashboard X Let C stand fo X C Although GDP X + C ng.cengage.com/staticb/ui/evo/index.html? deploymentld=58326429524367198800130137&elSBN=9781337915601&id=1567854320&snapshotld=3080673& M Gmail YouTube Maps APA citations MindTap - Cengag... O Practice Flashcar... S Ling 2000 Fall19... Ling 106 hw 4.pdf course hero C My Overview | Ch... ? Emily CENGAGE | MINDTAP Q Search this course X My Home Tracking the U.S. Economy Calculators 1 75 75 80 104 Courses Large sodas 300 2 600 2 Catalog and Study Tools Energy drinks 75 2 150 4 5 Textbooks 8 90 720 110 120 A-Z Rental Options Total cost 1,575 O Price index 100 College Success Tips Career Success Tips Suppose the base year for this price index is 2010. ? Help In the last row of the table, calculate and enter the value of the CSPI for the remaining years. Give Feedback Between 2010 and 2011, the CSPI increased by % . Between 2011 and 2012, the CSPI increased by % Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college? Check all bongo that apply. The quality of textbooks increased dramatically from 2010 to 2012, with textbook companies bundling new online study aids with their books. O Professors required each student to buy 10 notebooks, regardless of the price. A new type of personal transporter, which made it easier to get around places like university campuses, became available for purchase. As the price of energy drinks increased relative to the price of coffee between 2010 and 2012, students decreased their consumption of energy drinks and increased their consumption of coffee. Grade It Now Save & Continue Continue without saving