Westin Police Non Canvas Fall 2019-Spring 2020 Inflation Quiz - Requires Respondus LockDown Browser Started: Jul 23 at 11:24pm Quiz Instructions Make sure you have reviewed how to calculate consumer price index and the GDP deflator. You may use books and notes but as this is timed. you should put your work into the boxes as quickly as possible. The city of Movietown (pop: 1250) produces and consumes the goods: popcorn and soda. It produced these goods in the following amounts during 2016 through 2018. Assume the typical consumption basket has been determined as 725 bags of popcorn and 300 cans of soda. Popcorn Soda Att Year 15 Quantity Price Quantity Price 2016 700 $3.00 350 $1.00 2017 950 $3.25 500 $1.25 2018 1050 $4.00 750 $1.75 D Question 1 9 pts The city of Movietown (pop: 1250) produces and consumes the goods: popcorn and soda. It produced these goods in the followin ng 2016 through 2018. Assume the typical consumption bas as 725 bags of hp f4 19 144 12 prt sc # 3 O Q W E R U O PCanvas -> X CONE $4.00 730 D Question 1 9 pts The city of Movietown (pop: 1250) produces and consumes the goods: popcorn and soda. It produced these goods in the following amounts during 2016 through 2018. Assume the typical consumption basket has been determined as 725 bags of popcorn and 300 cans of soda. Popcorn Soda Year Quantity Price Quantity Price 2016 700 $3.00 350 $1.00 2017 950 $3.25 500 $1.25 2018 1050 $4.00 750 $1.75 Calculate the Consumer Price Index for 2017 and 2018. Use 2016 as your base year. Round answers to the hundredth place. Show all your work. B IYA . A . I E B B B E XXBE hp 19 144 mort sc @ # % 3 5 O W E RCanvas 0 words D Question 2 2.5 pts Insert the Consumer Price Index for 2017. Use 2016 as your base year. Round your answer to the hundredths place. D Question 3 2.5 pts Insert the Consumer Price Index for 2018. Use 2016 as your base year. Round your answers to the hundredths place. Show all work . D Question 4 9 pt hp .... . . . . . . . . . . . . . .. .. ....... ...s..sam 144 no mort so dele 4 0 @ % 5Canvas Insert the Consumer Price Index for 2018. Use 2016 as your base year. Round your answers to the hundredths place. Show all work. D Question 4 9 pts Show your work in calculating the Consumer Price Index rate of inflation from 2017 to 2018. Round your answers to the hundreths place. Write your answer as a percentage. B I U A . A . TE = = B E X X BE B . X 6 6 1 1 12 pt . Paragraph hp insort sc delet 140 16 10 14 @ % 3 5 6 OCanvas 0 words D Question 5 2.5 pts Insert the rate of inflation between 2017 and 2018 using the Consumer Price Index approach in the following box. Do not use the percent sign. D Question 6 9 pts The city of Movietown (pop: 1250) produces and consumes the goods: popcorn and soda. It produced these goods in the following amounts during 2016 through 2018. Assume the typical consumption basket has been determined as 725 bags of popcorn and 300 cans of soda. hp . . . . . . . . . .. . . . . . . ..". ."for 14 DDI mort sc delete 4 0 @ # & backs 3 4 5 8Canvas D Question 6 9 pts The city of Movietown (pop: 1250) produces and consumes the goods: popcorn and soda. It produced these goods in the following amounts during 2016 through 2018. Assume the typical consumption basket has been determined as 725 bags of popcorn and 300 cans of soda. Popcorn Soda Year Quantity Price Quantity Price 2016 700 $3.00 350 $1.00 2017 950 $3.25 500 $1.25 2018 1050 $4.00 750 $1.75 Calculate GDP deflator values for 2017 and 2018. Use 2016 as your base year. Round your answers to the hundredths place. Show all your work here (partial credit will be given). Put your GDP deflator values into the next two questions. B IYA . A . TESSI E X X BE - 2 6 0 1 1 12 pt Paragraph hp ".... . . . . ... . .. .. .... ... .. . .. . . . . . . . 2 . . . . . . . . . . . . . . . . . .. ........ . ......mrs . 19 144 no i import sc delete @ % & 3 5 6 8 backsCanvas D Question 7 2.5 pts Insert the GDP deflator value for 2017. Round to hundredth place. 2.5 pts D Question 8 Insert the GDP deflator value for 2018. . Round your answers to the hundredths place. 9 pts D Question 9 Using your values for the GDP deflator, calculate inflation between 2017 and 2018 using a method employed by the BEA. Use 2016 as your base year. Round your answers to the hundredths place. Write your answer as a percentage. (Do not write the percentage sign.) Show all work. hp . . . . . . . . . . . . . . . . . . . . . . ..... .. . . . delete 144 ho insort sc 7 140 16 10 + & backspace #. % 3 4Canvas D Question 9 9 pts Using your values for the GDP deflator, calculate inflation between 2017 and 2018 using a method employed by the BEA. Use 2016 as your base year. Round your answers to the hundredths place. Write your answer as a percentage. (Do not write the percentage sign.) Show all work. B IYA . A . I E B B B E X XBE B . X 5 0 1 12pt Paragraph 0 words D 2.5 pts Question 10 hp 144 prt sc delete @ % & backspa 4 5 6 OCanvas D Question 10 2.5 pts Insert the GDP deflator rate of inflation from 2017 to 2018. Round your answer to the hundredth place. Put value without percentage sign. D Question 11 9 pts Is the inflation rate you calculated between 2016 and 2017 the same using the two methods? Explain why or why not. O Yes, the values are the same because CPI and GDP deflator use different goods and services There is not enough data to make an assessment. O No, the values are not the same. CPI uses currently produced goods and services. GDP deflator focuses on what people typically consume No. the values are not the same. CPI uses a fixed basket of goods and services. GDP deflator focuses on what is currently produced and sets the prices at the base year. Yes, the values are the same because the CPI and GDP deflator are produced using the same goods and services. hp 19 144 10 Pli 144 12 insort sc delete @ % & 5 8 O backspace