1 answer

Suppose a typical family in Bananaland consumes only three goods: bananas, sunscreen and gasoline. Each year...

Question:

Suppose a typical family in Bananaland consumes only three goods: bananas, sunscreen and gasoline. Each year the typical fami
Suppose a typical family in Bananaland consumes only three goods: bananas, sunscreen and gasoline. Each year the typical familypurchases 100 kilos of bananas, 50 bottles of sunscreen and 150 litres of gasoline. The following table shows the prices of bananas, sunscreen and gasoline for 3 years. 2006 2007 2008 Bananas (price per kilo) $1.80 Sunscreen (price per bottle) $2.00 Gasoline (price per litre) $0.80 Rounded to one decimal point, the CPI for 2008 is $2.00 $2.10 $1.00 $2.20 $2.15 $0.90 A/

Answers

Cost of basket in 2006 = 1.8*100 + 2.00*50 + 0.8*150 = 400

Cost of basket in 2007 = 2.00*100 + 2.10*50 + 1.0*150 = 455

Cost of basket in 2008 = 2.20*100 + 2.15*50 + 0.9*150 = 462.50

CPI in 2008 = 462.50 / 400 * 100 = 115.625 ~ 115.6 (rounded to one decimal places)

.

Similar Solved Questions

1 answer
Bradley-Link's December 31, 2021, balance sheet included the following items: ($ in millions) $147 Long-Term Liabilities...
Bradley-Link's December 31, 2021, balance sheet included the following items: ($ in millions) $147 Long-Term Liabilities 9.0% convertible bonds, callable at 103 beginning in 2022, due 2025 (net of unamortized discount of $3) [note 8] 9.8% registered bonds callable at 106 beginning in 2031, due 2...
1 answer
Problem 22 Intro One year ago, Gangnam Inc. issued a 12-year, 5% coupon bond at its...
Problem 22 Intro One year ago, Gangnam Inc. issued a 12-year, 5% coupon bond at its par value of $1,000. This bond makes annual, not semi-annual payments. The bond can be called in 8 years at a price of $1,100 and it now sells for $785.83. The bond has a yield to maturity of 8%. - Attempt 1/5 for 10...
1 answer
I'm trying to interview someone on my field "NURSE" What is the education/careet path to that...
i'm trying to interview someone on my field "NURSE" What is the education/careet path to that job How did that person get there what is the most enjoyable part of the job what is the least enjoyable part of the job what advice do they have for someone entering the field....
1 answer
Write a C# Windows Form program that asks the user to enter a name (in a TextBox) and displays the following message (in...
Write a C# Windows Form program that asks the user to enter a name (in a TextBox) and displays the following message (in a Label): Hello, yourName! https://youtu.be/6nNiMeWK37w can be helpful... (unfortunately the sound did not record) You will use Visual studio to complete this task. The final deli...
1 answer
How do you integrate #\int _ { 0} ^ { 1} \frac { 1} { ( 5+ 2x - 2x ^ { 2} ) ( 1+ e ^ { ( 2- 4x ) } ) } d x#?
How do you integrate #\int _ { 0} ^ { 1} \frac { 1} { ( 5+ 2x - 2x ^ { 2} ) ( 1+ e ^ { ( 2- 4x ) } ) } d x#?...
1 answer
In the simplex method, which of the following is considered a Standard Maximum problem? (Please select...
In the simplex method, which of the following is considered a Standard Maximum problem? (Please select one answer). O Maximize: Z = 601 +8.02 Subject to the following constraints: 5x + 10x2 < 60 401 + 402 <-40 X>0; 202 > 0 Maximize: P = -1 +232 + 3003 Subject to the following constraints...
1 answer
1 Which of the following uses of money is the focus of those economists who favor...
1 Which of the following uses of money is the focus of those economists who favor the transactions approach to money measurement? Select one: a Store of value b Unit of account c Medium of exchange d Standard of deferred payment 2 Which of the following assets is traded only in an over-the-counter...
1 answer
Sulfur trioxide is made from the oxidation of sulfur dioxide. 2 SO2 + O2 --> 2 SO3. A 16 g sample of SO2, reacted wit...
Sulfur trioxide is made from the oxidation of sulfur dioxide. 2 SO2 + O2 --> 2 SO3. A 16 g sample of SO2, reacted with excess oxygen, gives 18 g SO3. What is the percent yield?...
1 answer
State the different types of fractures with causes with nursing medical management/interventions with rationales.
State the different types of fractures with causes with nursing medical management/interventions with rationales....
1 answer
After a fall, a 98 kg rock climber finds himself dangling from the end of a...
After a fall, a 98 kg rock climber finds himself dangling from the end of a rope that had been 13 m long and 8.0 mm in diameter but has stretched by 3.2 cm. For the rope, calculate (a) the strain, (b) the stress, and (c) the Young's modulus. (a) Number (b) Number (c) Number Units Units Units...
1 answer
Question 9 The operating results for Vinyl Ltd in 2017 are as follows: Sales $500,000 530030...
Question 9 The operating results for Vinyl Ltd in 2017 are as follows: Sales $500,000 530030 Less: Variable costs $200,000 370 2000 Contribution margin $300,000 CM 33000 18ooo) Less: Fixed costs $180,000 Net Profit $120,000 In 2018, both variable costs and sales are expected to increase by 10%. What...
1 answer
When you noticed that a patient has crackles in the lungs on inspiration and expiration, weepy...
when you noticed that a patient has crackles in the lungs on inspiration and expiration, weepy pitting pedal edema and irregular heart rate. he is diaphoretic and appears to have tremors. what is your primary priority as a nurse...
1 answer
5. Southern Pride Industries would like its Alabama Division to sell 30,000 units to its Arkansas...
5. Southern Pride Industries would like its Alabama Division to sell 30,000 units to its Arkansas Division for a price of $39. The Alabama Division is currently operating at full capacity. Alabama Division's unit variable cost is $24, unit fixed cost is $15, and unit selling price is $60. a. Wha...
4 answers
The position of a particle is given in cm by x = (7) cos 9?t, where...
The position of a particle is given in cm by x = (7) cos 9?t, where t is in seconds. (a) Find the maximum speed. ...... m/s (b) Find the maximum acceleration of the particle. ...... m/s2 (c) What is the first time that the particle is at x = 0 and moving in the +x direction? ....... s...
1 answer
Which of these is the left child of the node with the value 2 in a...
Which of these is the left child of the node with the value 2 in a binary search tree that is created by adding the following nodes in the order shown: 10 2 8 1 3 5 4 7? Select one: a. 2 b. 10 c. 1 d. 3 e. 8...
1 answer
(1 point) A large tank contains 500 liters of a salt solution which has a concentration...
(1 point) A large tank contains 500 liters of a salt solution which has a concentration of 0.55 kilograms per liter. A salt solution which has a concentration of 0.7 kilograms per liter is added to the solution at a rate of 40 liters per minute. At the same time, the solution drains from the tank at...
1 answer
What are the most reactive metals?
What are the most reactive metals?...
1 answer
Part B: 20 points each. 3. A simple harmonic motion of an obiect of mass m...
Part B: 20 points each. 3. A simple harmonic motion of an obiect of mass m = 8 kg attached with a spring is represented as time vs displacement graph in the following figure. Find the following parameters. 1.5m x (m) АААААА 2.3 ts) (a) Amplitude = (b) Time Period ...
1 answer
5 Node Element i k (2) (1) (3) 1 4 3 2 2 5 5 2...
5 Node Element i k (2) (1) (3) 1 4 3 2 2 5 5 2 (1) (2) (3) 2 3 7.2 The stiffness matrices and force vectors of the three two-dimensional thermal elements given in Fig. 7.5 are as follows. Assemble the terms to produce the system equations. [5 211 6 31 [k(1)] = [k(*)] = 2 10 2 [(2)] = 3 12 4 1 26 1 4...