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macro exercises 13005

# macro exercises 13005 - Year 2 \$12 x 3 \$15 x 4 = \$96 Year 3...

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Adam Petrone – ID #000490127 1/31/05 MacroEconomics Prof. Liu Exercise on Baskets 1. Fix Baskets : 3 footballs and 4 basketballs 2. The prices of the basket’s goals: Price of Footballs Price of Basketballs Year 1 \$10 \$12 Year 2 \$12 \$15 Year 3 \$14 \$18 3. Cost of Basket in Year 1-3 Year 1 \$10 x 3 + \$12 x 4 = \$78

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Unformatted text preview: Year 2 \$12 x 3 + \$15 x 4 = \$96 Year 3 \$14 x 3 + \$18 x 4 = \$114 4. CPI Year 1 \$78 x 100 = 100 \$78 Year 2 \$96 x 100 = 123 \$78 Year 3 \$114 x 100 = 146 \$78 5. Inflation Rate for Year 2 and 3 Year 2 123 – 100 x 100 = 23% 100 Year 3 146 – 123 x 100 = 18.7% 123...
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