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Question 1

Suppose that a typical market based in Slovenia consists of 190 Avocados and 200 Bags.

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

YearPrice of AvocadosPrice of Bags
20141.7170
20151100
20161.6180

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 the US consists of 160 Pineapples and 210 Bags.

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

YearPrice of PineapplesPrice of Bags
20141.6190
20151.1210
20161.2200

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 Norway consists of 180 Apples and 300 Textbooks.

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

YearPrice of ApplesPrice of Textbooks
20140.8180
20151.1210
20161.480

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 Canada consists of 150 Apples and 290 Bags.

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

YearPrice of ApplesPrice of Bags
20141.2160
20151.1180
20161.4100

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 the US consists of 130 Avocados and 290 Textbooks.

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

YearPrice of AvocadosPrice of Textbooks
20141.2190
20151.2220
20161.2210

Assume that the base year is 2014.

Given this data, what is CPI in 2015?

 

Hint


Question 6

Suppose that a typical market basket in Slovenia consists of 170 Oranges and 260 Jackets.

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

YearPrice of OrangesPrice of Jackets
20141.2180
20151180
20161.4140

Assume that the base year is 2014.

Given this data, what is CPI in 2016?

 

Hint


Question 7

Suppose that a typical market basket in Canada consists of 160 Apples and 300 Jackets.

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

YearPrice of ApplesPrice of Jackets
20140.6100
20150.9160
20161.5180

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 150 Oranges and 270 Jackets.

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

YearPrice of OrangesPrice of Jackets
20142130
20151.2130
20161.2120

Assume that the base year is 2015.

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

 

Hint