Try another version of these questions

Question 1

Suppose that a typical market based in Canada consists of 140 Pineapples and 210 Jackets.

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

YearPrice of PineapplesPrice of Jackets
20140.8140
20151110
20161.6110

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 Slovenia consists of 110 Pineapples and 280 Textbooks.

The table below show data on prices for Pineapples and Textbooks in Slovenia for three years.

YearPrice of PineapplesPrice of Textbooks
20141.9190
20150.8150
20161.1180

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 the US consists of 180 Avocados and 220 Bags.

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

YearPrice of AvocadosPrice of Bags
20141.7140
20151.2100
20160.8150

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 Japan consists of 200 Avocados and 220 Bags.

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

YearPrice of AvocadosPrice of Bags
20141.2120
20151.290
20161.690

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 200 Apples and 220 Textbooks.

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

YearPrice of ApplesPrice of Textbooks
20141.2180
20151.2120
20161.5180

Assume that the base year is 2015.

Given this data, what is CPI in 2015?

 

Hint


Question 6

Suppose that a typical market basket in China consists of 130 Apples and 250 Textbooks.

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

YearPrice of ApplesPrice of Textbooks
20140.6150
20150.8100
20160.9200

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 Slovenia consists of 100 Oranges and 250 Bags.

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

YearPrice of OrangesPrice of Bags
20141.3190
20151.2160
20161.5190

Assume that the base year is 2016.

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

 

Hint


Question 8

Suppose that a typical market basket in Japan consists of 190 Avocados and 290 Bags.

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

YearPrice of AvocadosPrice of Bags
20141.4140
20151.1160
20161.3140

Assume that the base year is 2016.

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

 

Hint