Describe the current state of two economic indicators [ i.e. inflation] in the Philippines and how they affect the economy as a whole. (2 paragraphs)
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Describe the current state of two economic indicators [ i.e. inflation] in the Philippines and how they affect the economy as a whole. (2 paragraphs)
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- Describe the current state of two economic indicators [ i.e. inflation] in the Philippines and how they affect the economy as a whole. (Essay type)Question 1 Product Quantity Base Year Price (2001) Price (2018) Price (2019) Baseball 10 $1.00 $1.50 $1.75 Pizza 15 $5.00 7.00 $6.75 Table 08 $2.00 3.00 3.50 Consider a simple economy that produces only three products; baseballs, pizzas and tables. Use the information in the table to calculate The CPI for 2001 The inflation rate for 2019, as measured by the consumer price indexSuppose you needed $37,000 to maintain a particular standard of living in 1983. How much would you have needed in 2011 to maintain the same standard of living? Assume that all prices have risen at the same rate as the CPI. How much would you have needed? $ (Round to the nearest dollar.) (... Average Annual Consumer Price Index (CPI) (1982-1984-100) CPI CPI Year 124.0 1989 130.7 1990 1991 136.2 140.3 1992 1993 1994 144.5 148.2 1995 152.4 1996 156.9 1997 160.5 1998 163.0 1999 166.6 2000 172.2 Year 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 56.9 60.6 65.2 72.6 82.4 90.9 96.5 99.6 103.9 107.6 109.6 113.6 118.3 Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CPI 177.1 179.9 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 229.6
- Quantity Quantity Item (2018) Price (2018) (2019) Price (2019) Magazines 400 $5.00 450 $4.50 Movie tickets 50 $6.00 200 $8.00 Pizzas 100 $10.00 120 $10.50 The data in the table above shows the consumption by families in an economy. The year 2018 is the reference base period. Based on the table above, between 2018 and 2019, the inflation rate in this country was 2.5 percent. 98.5 percent. -1.5 percent. 105.1 percent. -2.5 percent.(21) Carla just started her new job working at the Department of Commerce. In order to see whether Carla “knows her stuff,” her boss asks her to put together a presentation on the current state of the economy. What economic indicators should Carla look at? Select one: a. The unemployment rate, business profits, and auto sales. b. The growth rate of real GDP, employment in the steel industry, and Oil prices. c. The inflation rate, the unemployment rate, and the growth rate of real GDP. d. The inflation rate, the unemployment rate in Georgia, and mortage interest rates in Texas. (22) Price ceilings typically result in ________. Select one: a. shortages b. price equilibrium c. excess supplyThe price of gold (end-of-year closing price in dollars per troy ounce) is shown in the table below. The CPI index for the given years is shown to the right. Complete parts (a) through (c) below. Average Annual Consumer Price Index (CPI) Year 1986 1996 2006 2016 Year 1986 1996 2006 2016 CPI 109.6 156.9 201.6 240.0 Price $281 $434 $896 $1118 a. The prices shown in the table above are not adjusted for inflation. Revise the above table to express all prices in terms of 2016 dollars. Year 1986 1996 2006 2016 2016 2$ $4 Price (Round to the nearest cent as needed.)
- Quantity (2015) Price (RM) (2015) 3.00 Quantity (2016) 22 Price (RM) (2016) Item Loaves of bread Jugs of soda 20 4.00 20 2.00 30 1.50 1. The tables above give the purchases of an average consumer in a small economy. Suppose 2015 is the reference base period. b) What is the CPI in 2015? ( c) What is the CPI in 2016? d) What is the inflation rate in 2016? Explain1. The following prices and quantities produced were recorded in computer land during the years shown and Calculate the following and show your work. a) Using the CPI what was the average annual rate of inflation during 1993 to 1994? b) What was the GDP deflator in 1994? c) What was the percentage change in real GDP from 1993 to 1994 d) What was the percentage change in nominal GDP from 1993 to 1994?(12.)what impact does inflation have on the value of business ?
- (a) Distinguish between the consumer price index (CPI) and the producer price index (PPI). (b) Why can the PPI be useful for predicting changes in the CPI?(a) The Consumer Price Index (CPI) in December 1980 was 86.3. The Consumer Price Index as of December 2021 is 278.8. If the minimum wage would have increased at the same rate as the CPI from 1980 to 2021, what would the hourly minimum wage be in 2021? (b) Using the CPI, if the CPI in the base year 1982-1984 is 100 and the CPI in 1980 is 86.3, then what would the real minimum wage be in 1981? (c) Using the CPI, if the CPI in the base year 1982-1984 is 100 and the CPI in 2021 is 278.8, then what would t he real minimum wage be in 2021?Questions: 1. Compute the total costs for all the years (2017 to 2020). 2. Compute the price index for each year using 2019 as the base year. 3. Compute the inflation rate for each year.