Lesson 6 Assignment (Homework # 4)

1. The CPI is 87.2 in one year and 102.3 in the next year. What is the rate of inflation between the two years?

1. The CPI is 131.31 in 2019 and 124.72 in 2020. What is the percentage change in prices between the two years?

1. Nominal income is $72,000 and the CPI is 130. What is real income?

1. Real income is $62,626 and the CPI is 116. What is nominal income?

1. Real income is $54,000 and nominal income is $58,000. What is the CPI?

1. Nominal GDP is $1,246.00 and real GDP is $822.40. What is the GDP deflator?

1. Real GDP is $669.96 and the GDP deflator is 148. What is nominal GDP?

1. Nominal GDP is $2,750 and the GDP deflator is 127. What is real GDP?

1. A slice of pizza cost $2.50 in 2015. If the CPI in 2015 was 88 and the CPI today is 108, what is the equivalent price for the slice of pizza today?

1. If the size of the labor force is 825 and 725 people are employed, what is the unemployment rate?

1. If the size of the labor force is 2,500 and 125 people are unemployed, what is the unemployment rate?

1. If the unemployment rate is 12%, what is the employment rate?