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 131 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 term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

The movement of air and water in sandy soil. The movement of air and water in sandy soil.
The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology 1 The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology 1
The effect of a double bond on the shape of fatty acids The effect of a double bond on the shape of fatty acids
Downward movement of the piston lowers the air pressure inside the combustion chamber. The pressure ... Downward movement of the piston lowers the air pressure inside the combustion chamber. The pressure ...
The effect of neuron death and synapse rearrangement on the selectivity of synaptic transmission. ... The effect of neuron death and synapse rearrangement on the selectivity of synaptic transmission. ...
Ciliary movement Ciliary movement
Video: Mycobacterium tuberculosis: Drug Resistance and Natural Selection

For a complete list of videos, visit our video library