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Author Question: The table above gives the CPI market basket for 2010 and 2011. Suppose that 2010 is the reference ... (Read 136 times)

Chelseaamend

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on: Jun 29, 2018
The table above gives the CPI market basket for 2010 and 2011. Suppose that 2010 is the reference base period.
 
  a. What is the cost of the CPI market basket in 2010?
  b. What is the cost of the CPI market basket in 2011?
  c. What is the CPI for 2010?
  d. What is the CPI for 2011?

Question 2

The natural unemployment rate is the unemployment rate that exists when there is no
 
  A) cyclical unemployment.
  B) frictional unemployment.
  C) structural unemployment.
  D) unnecessary unemployment.
  E) cyclical or structural unemployment.


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xMRAZ

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a. The cost of the CPI market basket in 2010 is 1,520.00.
b. The cost of the CPI market basket in 2011 is 1,712.50.
c. The CPI for 2010 is 100 because 2010 is the base period.
d. The CPI for 2011 equals (1,712.50)/(1,520.00 )  100 = 112.66.

Answer to Question 2

A


Chelseaamend

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

ryhom

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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