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 145 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?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Proteins that facilitate the formation and movement of a replication fork Proteins that facilitate the formation and movement of a replication fork
Effect of Knockout of the α5 Ach Receptor Gene in Mice Effect of Knockout of the α5 Ach Receptor Gene in Mice
Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ... Religion can promote social change, as was evident in the U.S. civil rights movement. Dr. Martin ...
Figure-8s at the knuckles of the hand. Figure-8s at the knuckles of the hand.
EYEMA-O-BYERI (Reliquary Figure) EYEMA-O-BYERI (Reliquary Figure)
The effect of selection on allele frequency The effect of selection on allele frequency
Video: Primary Active Transport - electrochemical gradient and ion transport / water movement

For a complete list of videos, visit our video library