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Suppose that a typical market based in Norway consists of 150 Apples and 220 Textbooks.

The table below shows data on prices for Apples and Textbooks in Norway for three years.

YearPrice of ApplesPrice of Textbooks
20141.8160
20150.9110
20160.9130

Assume that the base year is 2015.

Given this data, what is the price of the basket in 2014?

 

Hint


Suppose that a typical market basket in China consists of 180 Avocados and 210 Bags.

The table below show data on prices for Avocados and Bags in China for three years.

YearPrice of AvocadosPrice of Bags
20140.8110
20151.2220
20161.3150

Assume that the base year is 2014.

Given this data, what is the price of the basket in 2015?

 

Hint


Suppose that a typical market basket in Canada consists of 170 Pineapples and 250 Textbooks.

The table below shows data on prices for Pineapples and Textbooks in Canada for three years.

YearPrice of PineapplesPrice of Textbooks
20141.6130
20150.9100
20161.4180

Assume that the base year is 2015.

Given this data, what is the price of the basket in 2016?

 

Hint


Suppose that a typical market based in Norway consists of 110 Pineapples and 270 Textbooks.

The table below show data on prices for Pineapples and Textbooks in Norway for three years.

YearPrice of PineapplesPrice of Textbooks
20140.7130
20151.190
20160.8160

Assume that the base year is 2015.

Given this data, what is CPI in 2014?

 

Hint


Suppose that a typical market basket in Mexico consists of 130 Avocados and 270 Jackets.

The table below shows data on prices for Avocados and Jackets in Mexico for three years.

YearPrice of AvocadosPrice of Jackets
20140.9160
20151.2210
20161.3200

Assume that the base year is 2014.

Given this data, what is CPI in 2015?

 

Hint


Suppose that a typical market basket in China consists of 100 Avocados and 230 Bags.

The table below shows data on prices for Avocados and Bags in China for three years.

YearPrice of AvocadosPrice of Bags
20142180
20151.2140
20161.2210

Assume that the base year is 2015.

Given this data, what is CPI in 2016?

 

Hint


Suppose that a typical market basket in Japan consists of 110 Pineapples and 290 Textbooks.

The table below show data on prices for Pineapples and Textbooks in Japan for three years.

YearPrice of PineapplesPrice of Textbooks
20142170
20151180
20161.2160

Assume that the base year is 2015.

Given this data, what is the inflation rate between 2014 and 2015?

 

Hint


Suppose that a typical market basket in Slovenia consists of 200 Pineapples and 230 Textbooks.

The table below shows data on prices for Pineapples and Textbooks in Slovenia for three years.

YearPrice of PineapplesPrice of Textbooks
20140.6140
20151180
20161.5160

Assume that the base year is 2014.

Given this data, what is the inflation rate between 2015 and 2016?

 

Hint