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QUESTION 8 Calculate the CPI in 2008 for the following hypothetical economy: Item Quantity Price in Base year price in 2008 50 75 Shoes 4

QUESTION 8 Calculate the CPI in 2008 for the following hypothetical economy: Item Quantity Price in Base year price in 2008 50 75 Shoes 4 5 20 30 Shirts Textbooks 10 35 75 Movie tickets 30 10 Pizzas 60 10 191 O 174 O 212 QUESTION 9 In Macronesia, the MPC is approximately 0.8. If disposable income changes from 1,000 billion consumption will change by a(n)

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