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Author Question: The CPI ProductQuantity (Year 1) Price(Year 1)Expenditure (Year 1) Price (Year 2)Expenditure (on ... (Read 13 times)

krabuske

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on: Nov 23, 2022

Question 1

The CPI

Last year, monthly expenditures for a family of 4 averaged $2800. This year, the cost of the same purchases is $3300. If last year was the base year, the CPI for this year is ________. (Round to the nearest whole number.)
◦ 250
◦ 118
◦ 115
◦ 500

Question 2

The CPI




   Product
Quantity   (Year 1)
   Price
(Year 1)
Expenditure              (Year 1)
   Price
(Year 2)		Expenditure (on base year quantities)
(Year 2)
Cell Phones3​$500​$1500​$650​$1950​
Pizzas15​19​285​11​165​
Books8​9​72​11​88​
Totalblankblank1857​blank2203​


Suppose an economy has only three goods and the typical family purchases the amounts listed in the table.  If Year 1 is the base year, then the CPI for Year 2 is ________. (Round to the nearest whole number.)
◦ 119
◦ 116
◦ 346
◦ 84
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by krabuske on Nov 23, 2022

Hamad

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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krabuske

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

bitingbit

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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