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Question 1

Suppose that a typical market based in Canada consists of 100 Pineapples and 200 Bags.

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

YearPrice of PineapplesPrice of Bags
20141.3190
20151.2170
20161.690

Assume that the base year is 2014.

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

 

Hint


Question 2

Suppose that a typical market basket in Mexico consists of 100 Avocados and 220 Bags.

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

YearPrice of AvocadosPrice of Bags
20140.6170
20151.1170
20161.6200

Assume that the base year is 2014.

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

 

Hint


Question 3

Suppose that a typical market basket in Slovenia consists of 120 Avocados and 280 Bags.

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

YearPrice of AvocadosPrice of Bags
20141.4120
20150.8150
20161.2220

Assume that the base year is 2015.

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

 

Hint


Question 4

Suppose that a typical market based in China consists of 190 Oranges and 260 Textbooks.

The table below show data on prices for Oranges and Textbooks in China for three years.

YearPrice of OrangesPrice of Textbooks
20141140
20150.8190
20160.8200

Assume that the base year is 2016.

Given this data, what is CPI in 2014?

 

Hint


Question 5

Suppose that a typical market basket in China consists of 120 Apples and 250 Jackets.

The table below shows data on prices for Apples and Jackets in China for three years.

YearPrice of ApplesPrice of Jackets
20140.5180
2015190
20161.3150

Assume that the base year is 2016.

Given this data, what is CPI in 2015?

 

Hint


Question 6

Suppose that a typical market basket in the US consists of 130 Apples and 270 Bags.

The table below shows data on prices for Apples and Bags in the US for three years.

YearPrice of ApplesPrice of Bags
20141.1110
20151.290
20161.1190

Assume that the base year is 2015.

Given this data, what is CPI in 2016?

 

Hint


Question 7

Suppose that a typical market basket in Japan consists of 170 Apples and 240 Bags.

The table below show data on prices for Apples and Bags in Japan for three years.

YearPrice of ApplesPrice of Bags
20140.5200
20150.9160
20161170

Assume that the base year is 2015.

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

 

Hint


Question 8

Suppose that a typical market basket in China consists of 110 Avocados and 220 Jackets.

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

YearPrice of AvocadosPrice of Jackets
20140.5160
20151.1150
20161.4210

Assume that the base year is 2015.

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

 

Hint