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Question 1

Suppose that a typical market based in the US consists of 110 Oranges and 230 Jackets.

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

YearPrice of OrangesPrice of Jackets
20141.6200
20150.890
20161.5170

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 Apples and 300 Jackets.

The table below show data on prices for Apples and Jackets in Mexico for three years.

YearPrice of ApplesPrice of Jackets
20140.5150
20151.280
20161.2210

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 Japan consists of 150 Pineapples and 210 Textbooks.

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

YearPrice of PineapplesPrice of Textbooks
20141.7200
20151.2220
20161160

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 Canada consists of 160 Avocados and 220 Textbooks.

The table below show data on prices for Avocados and Textbooks in Canada for three years.

YearPrice of AvocadosPrice of Textbooks
20141.2140
20150.9140
20161.1190

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 the US consists of 190 Avocados and 290 Jackets.

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

YearPrice of AvocadosPrice of Jackets
20141100
20151180
20161.190

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 130 Apples and 200 Textbooks.

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

YearPrice of ApplesPrice of Textbooks
20141.4170
20151.1150
20161170

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 Mexico consists of 170 Oranges and 240 Bags.

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

YearPrice of OrangesPrice of Bags
20141.9120
20151150
20161.5140

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 Slovenia consists of 110 Oranges and 220 Jackets.

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

YearPrice of OrangesPrice of Jackets
20141.7100
20151.2110
20161.6190

Assume that the base year is 2015.

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

 

Hint