This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Referring to Figure 19.2, the effect of a decrease in Japanese prices is represented by a movement ... (Read 136 times)

james9437

  • Hero Member
  • *****
  • Posts: 568
on: Jun 29, 2018
Referring to Figure 19.2, the effect of a decrease in Japanese prices is represented by a movement from point
 
  A) d to a. B) d to c. C) c to d. D) c to b.

Question 2

In 1995, the CPI was 152.5 and the price of an economics textbook was 70.00 and a music CD was 16.00. If the CPI was 172.3 in 2011, what were the prices of the economics textbook and the music CD in 2011 dollars?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meganmoser117

  • Sr. Member
  • ****
  • Posts: 303
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

To adjust the two prices, the ratio of the CPI in 2011 to the CPI in 1995 is needed. This ratio is (172.3)/(152.5 ) = 1.13. Then multiply the 1995 prices by this ratio to convert the prices to 2011 dollars. This yields a 2011 dollar price for the textbook of (70.00  1.13 ) = 79.10 and a 2011 dollar price for the CD of (16.00  1.13 ) = 18.08.


james9437

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: Jun 29, 2018
Correct answers!


meganmoser117

  • Sr. Member
  • ****
  • Posts: 303
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Japanese farmers create pentagon-shaped oranges Japanese farmers create pentagon-shaped oranges
The Greenhouse Effect The Greenhouse Effect
Effect of changing a set point for hypothalamic values Effect of changing a set point for hypothalamic values
Mobilize knuckles with figure-8s. Turn the hand so palm faces the table. Grasp the proximal phalange ... Mobilize knuckles with figure-8s. Turn the hand so palm faces the table. Grasp the proximal phalange ...
Testing rapid alternating movement, palms up Testing rapid alternating movement, palms up
Refer to (d) in the figure above. This rectifier arrangement Refer to (d) in the figure above. This rectifier arrangement
Video: Autonomic Nervous System Animation

For a complete list of videos, visit our video library