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Suppose that a typical market based in China consists of `120` Apples and `300` Jackets.

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

YearPrice of ApplesPrice of Jackets
20140.6110
20150.9170
20160.8150

Assume that the base year is 2014.

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

 

Suppose that a typical market basket in Norway consists of `190` Oranges and `220` Bags.

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

YearPrice of OrangesPrice of Bags
20140.8140
20150.9150
20161.4210

Assume that the base year is 2015.

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

 

Suppose that a typical market basket in Norway consists of `180` Apples and `220` Jackets.

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

YearPrice of ApplesPrice of Jackets
20141.2110
20151.1140
20161.4210

Assume that the base year is 2016.

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

 

Suppose that a typical market based in the US consists of `200` Apples and `270` Jackets.

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

YearPrice of ApplesPrice of Jackets
20140.9170
20150.9200
20161.6180

Assume that the base year is 2014.

Given this data, what is CPI in 2014?

 

Suppose that a typical market basket in Norway consists of `140` Pineapples and `270` Textbooks.

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

YearPrice of PineapplesPrice of Textbooks
20141.9170
20150.8220
20161.4170

Assume that the base year is 2014.

Given this data, what is CPI in 2015?

 

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

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

YearPrice of ApplesPrice of Bags
20140.5170
20150.8190
20161.5140

Assume that the base year is 2014.

Given this data, what is CPI in 2016?

 

Suppose that a typical market basket in China consists of `140` 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
20141.2150
2015180
20160.8170

Assume that the base year is 2014.

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

 

Assume that the base year is 2016.

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