You have just graduated from college. You, your older sister, your mother, and your father are comparing the starting s in your first jobs . The year you each started your first job , the CPI in that year , and your staring salary are given below. Which of you started your first job with the highest real income? 1.26 Instructions: Enter your responses rounded to two decimal places. Family member Starting Salary Real Income 1980 Your father 0.82 $ 19, 150 1985 Your mother 1.08 $ 26 , 280 2010 Your older sister 2.18 $ 36,000 2019 You 2.44 $ 45,080 You have just graduated from college. You, your older sister, your mother, and your father are comparing the starting s in your first jobs. The year you each started your first job, the CPI in that year, and your staring salary are given below . Which of you started your first job with that min ur first job with the highest real income? .26 points Instructions: Enter your responses rounded to two decimal places. Skipped Year Family member Starting Salary Your father 0.82 Real Income 1985 2816 Your mother 2. 18 $ 19,608 7019 Your older sister 5 42 , 808 The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha" between 2010 015. For each year find the percent change in the price of gasoline from the previous year's price, the CPI inflation rate, and the change in the relative price of gasoline. pints Skipped Instructions: Enter your responses rounded to one decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Gasoline price Percent change in Change in relative e Book (s/gallon) gasoline price price of gasoline 2010 $ 1. 08 1.60 Inflation 2012 2013 $ 1.25 2.80 2014 2015 $ 1. 87 ile The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha" between 2010 and 2015. For each year find th ach year find the percent change in the price of gasoline from the previous year's price, the CPI nflation rate, and the change in the relative price of gasoline. Instructions: Enter your respor Skipped and one decimal place for percent values in the relative price change. If you are entering any nega sure to include a negative sign (-) in front of those numbers . entering any negative numbers be Gasoline price Percent change i Change in relative 2010 ($/gatton) gasoline price price of gasoline 2011 2.07 Inflation $ 2 .10 2 . 19 2012 3 2 .24 2.24 2914 $ 2.35 2:34 5 2.66 Government survey takers determine that typical family expenditures each month in the year designated as the .26 20 pizzas, $10 each Apartment rent, $600 per month Gasoline and car maintenance, $100 per month Phone service (basic service plus 10 long-distance calls), $50 per month In the year following the base year, the survey takers determine that pizzas have risen to $11 each, apartment rent is $640, gasoline and maintenance costs are $112, and phone service has dropped in price to $40. Terences decimal place. Instructions: Enter your responses by rounding the CPI to three decimal places and the rate of inflation to one a. Find the CPI in the subsequent year and the rate of inflation between the base year and the subsequent year. CPI: Rate of inflation: % b. The family's nominal income rose by 5 percent between the base year and the subsequent year. Are they worse off or better off in terms of what their income is able to buy? Here are hypothetical values of the CPI (multiplied by 100) for each year from 2000 to 2010. For each year beginning with 2001, calculate the rate of inflation from the previous year. .26 oints Instructions: Enter your responses rounded to two decimal places. Year CPI Inflation Rate (3) 2091 133 . 2 2002 137 .3 2003 141.5 2004 145.2 2005 149 .4 20 06 153.9 157.5 2008 160.0 2009 163 .6 2016 169 .2
