Chat with AIExam 6: Measuring the Cost of Living
Exam 1: Ten Principles of Economics216 Questions
Exam 2: Thinking Like an Economist234 Questions
Exam 3: Interdependence and the Gains From Trade206 Questions
Exam 4: The Market Forces of Supply and Demand349 Questions
Exam 5: Measuring a Nations Income169 Questions
Exam 6: Measuring the Cost of Living181 Questions
Exam 7: Production and Growth191 Questions
Exam 8: Saving, investment, and the Financial System213 Questions
Exam 9: Unemployment and Its Natural Rate197 Questions
Exam 10: The Monetary System204 Questions
Exam 11: Money Growth and Inflation195 Questions
Exam 12: Open-Economy Macroeconomics: Basic Concepts220 Questions
Exam 13: A Macroeconomic Theory of the Small Open Economy196 Questions
Exam 14: Aggregate Demand and Aggregate Supply257 Questions
Exam 15: The Influence of Monetary and Fiscal Policy on Aggregate Demand222 Questions
Exam 16: The Short-Run Tradeoff Between Inflation and Unemployment207 Questions
Exam 17: Five Debates Over Macroeconomic Policy119 Questions
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In a simple economy,people consume only two goods: food and clothing.The market basket of goods used to compute the CPI has 50 units of food and 10 units of clothing.
Food Clothing
Last year's price $4$ $10
This year's price $6 $20
a.What are the percentage increases in the price of food and in the price of clothing?
b.What is the percentage increase in the CPI?
c.Do these price changes affect all consumers to the same extent? Explain.
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