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Question 1

Suppose that a typical market based in Mexico consists of 150 Pineapples and 290 Bags.

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

YearPrice of PineapplesPrice of Bags
20141.3100
20151.1210
20160.8160

Assume that the base year is 2015.

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

 

Hint


Question 2

Suppose that a typical market basket in Japan consists of 120 Pineapples and 200 Bags.

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

YearPrice of PineapplesPrice of Bags
20140.6200
20150.990
20161100

Assume that the base year is 2016.

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

 

Hint


Question 3

Suppose that a typical market basket in the US consists of 150 Oranges and 290 Jackets.

The table below shows data on prices for Oranges and Jackets in the US for three years.

YearPrice of OrangesPrice of Jackets
20140.8140
20150.9210
20161110

Assume that the base year is 2014.

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

 

Hint


Question 4

Suppose that a typical market based in the US consists of 150 Apples and 240 Bags.

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

YearPrice of ApplesPrice of Bags
20141.8130
20150.890
20160.980

Assume that the base year is 2014.

Given this data, what is CPI in 2014?

 

Hint


Question 5

Suppose that a typical market basket in Slovenia consists of 200 Oranges and 210 Jackets.

The table below shows data on prices for Oranges and Jackets in Slovenia for three years.

YearPrice of OrangesPrice of Jackets
20141.5120
20151170
20161.2200

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 Japan consists of 200 Avocados and 210 Jackets.

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

YearPrice of AvocadosPrice of Jackets
20141.7200
20150.880
20161.5110

Assume that the base year is 2016.

Given this data, what is CPI in 2016?

 

Hint


Question 7

Suppose that a typical market basket in China consists of 150 Avocados and 270 Jackets.

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

YearPrice of AvocadosPrice of Jackets
20142190
20151170
20160.8220

Assume that the base year is 2014.

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

 

Hint


Question 8

Suppose that a typical market basket in Slovenia consists of 130 Pineapples and 210 Bags.

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

YearPrice of PineapplesPrice of Bags
20141160
20150.890
20161.5210

Assume that the base year is 2016.

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

 

Hint