Search (Alt+Q) is PC Enable Editing Question 1 (4 marks) In January 2004, the price for a roast porc was 2.99 per kilogram. In September 2014, the price for the same roast porc was $6.19. (Round the final answers to 1 decimal place.) (a) Use the January 2004 price as the base period and 100 as the base value to develop a simple index. b) By what percentage has the cost of roast porc increased during the 10-year period? Question 2 (2 marks) The price of a pair of sunglasses in 2006 was $ 130 and $ 160 in 2014. During the same period, the CPI (Consumer Price Index) for clothing and accessories increased by 2.9 %, Did the price of the sunglasses increase more than, the same, or less than the CPI? (Round the final answer to the nearest one.) Question 3 (7 marks) Jane Smith is a freelance IT consultant. Her yearly wages for the years 2009 through 2014 are listed below. An industry index for computer programmers that reports the rate of wage inflation in the industry is also included. This index has a base of 1998. ALGONQUIN COLLEGE | Online Year Wage (S thousands) Index (1998 = 100) 2009 $165 148.3 2010 167 140.6 2011 150 120.9 2012 128 110.2 2013 120 105.3 2014 131 105.0 (a) (5 marks) Compute Jane's real income for the period. (b) (2 marks) Did her wages match the increase or decline in the industry? Question 4 (8 marks) The table below gives information on the CPI and the monthly take-home pay of Bill Jones, an employee at the Ford Canada. (a) What is the purchasing power of the dollar for 2007 based on the period 2002? (Round the final answer to 5 decimal places.) (b) Determine Mr. Jones' "real" monthly income for 2007. (Round the final answer to 2 decimal places.) . c) What is the purchasing power of the dollar for 2010 based on the period 2002? (Round the final answer to 5 decimal places.) (d) Determine Mr. Jone's "real" monthly income for 2010. (Round the final answer to 2 decimal places.) Year (2002 = 100) er Price Index (CPI) Mr. Martins Monthly Take- 2002 Home Pay ($ 2007 100.0 111.5 2300 2010 116.5 2700 2013 122.8 2900 3100 Question 5 (2 marks) In 2009, the mean salary for a marketing director with a bachelor's degree was $84,373. The CPI for 2009 was 114.4. The mean annual salary for a marketing director in the base period of 2002 (2002 = 100.0) was $ 69,500. What was the real income of the marketing director in 2009? How much had the mean salary increased