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Question 1

Suppose that a typical market based in Canada consists of 180 Pineapples and 200 Jackets.

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

YearPrice of PineapplesPrice of Jackets
20141.4140
20150.8100
20161.490

Assume that the base year is 2016.

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

 

Hint


Question 2

Suppose that a typical market basket in Canada consists of 170 Apples and 250 Bags.

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

YearPrice of ApplesPrice of Bags
20141.3160
20151220
20161150

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 China consists of 130 Oranges and 240 Jackets.

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

YearPrice of OrangesPrice of Jackets
20142200
20150.8120
20161.5120

Assume that the base year is 2016.

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 130 Apples and 270 Textbooks.

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

YearPrice of ApplesPrice of Textbooks
20140.5150
20150.8160
20161190

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 180 Avocados and 290 Textbooks.

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

YearPrice of AvocadosPrice of Textbooks
20142190
20151210
20161.6220

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 Japan consists of 150 Pineapples and 200 Bags.

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

YearPrice of PineapplesPrice of Bags
20140.7150
20150.9130
20161.4200

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 Mexico consists of 190 Apples and 290 Jackets.

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

YearPrice of ApplesPrice of Jackets
20141.4180
20151.1200
20160.9210

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 Norway consists of 120 Oranges and 290 Jackets.

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

YearPrice of OrangesPrice of Jackets
20141.6140
20151.1220
20161.2110

Assume that the base year is 2014.

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

 

Hint