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The table below shows the prices (P) and quantities (Q) of a typical consumption basket, which consists of only product X and Y, for a country in several years:
2000
2007
2008
Product
Q
P
X
5
$2
$3
Y
10
$4
$4.55
a. Using year 2000 as the base year, calculate the CPI in 2000, 2007 and 2008.
b. What was the annual inflation rate between year 2007 and 2008?
c. A person took out a one-year loan of $550 from the bank in 2007 and repaid $594 in 2008. What was the annual nominal interest rate between 2007 and 2008? What was the annual real interest rate?
d. Was the one-year loan a good business for the bank or not? Explain.
Given the table above, calculate the unemployment rate.
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I. Suppose that the State of Washington (that is, the median voter in Washington) has the following preferences of Education E and other goods G: U(G, E) = α ln G + (1 - α) ln E The price of education is PE; the price of other goods is 1; the state' ..
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using the three-step process for assessing the it organization determine the impact of economic factors at the
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