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How should that information affect your calculation
Course:- Business Economics
Reference No.:- EM1349723




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suppose that people consume only three goods, tennis balls 2009 price $2 and the quantity 100 2010 price $2 and the quantity 100 Golf ball 2009 price $4 and the quantity 100 2010 price $6 and the quantity 100 bottle of gatorade 2009 price $1 and the quantity 200 2010 price $2 and the quantity 200 a, what is the precentage change in the price of each of the three goods b. using a method similar to the consumer price index, compute the percentage change in the overall price level c. if you were to learn that a bottle of gaterade increased in size from 2009 to 2010, should that infomation affect your calculation of the inflation rate? if so how? d. If you were to learn that gatorade introduced new favors in 2010, should that information affect your calculation to the inflation rate? if so how?




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