1. Refer to the following table, compute the CPI in 2013. Assume that 2012 is the...
1. Refer to the following table, compute the CPI in 2013. Assume that 2012 is the base year.
|
Good |
2012 Price |
2012 Quantity |
2013 Price |
2013 Quantity |
|
A |
$2.00 |
550 |
$3.50 |
600 |
|
B |
$4.00 |
1,000 |
$5.50 |
900 |
|
C |
$2.00 |
250 |
$1.50 |
300 |
2. Refer to the following table, compute the GDP deflator in 2013. Assume that 2012 is the base year.
|
Good |
2012 Price |
2012 Quantity |
2013 Price |
2013 Quantity |
|
A |
$2.00 |
550 |
$3.50 |
600 |
|
B |
$4.00 |
1,000 |
$5.50 |
900 |
|
C |
$2.00 |
250 |
$1.50 |
300 |
Homework Answers
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1. Refer to the following table, compute the CPI in 2013. Assume
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