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In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the previous iPhone model. How did the introduction of the iPhone 4S affect the Consumer Price Index? What factors in the calculation of the CPI caused this effect?

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Samantha Balando
Samantha BalandoLv7
28 Sep 2019

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Related questions

In the article by David Barboza, How China Built ‘iPhone, NY Times, December 29, 2016, to win Apple’s contract manufacturer after the first iPhone rolled out, many Chinese governments did the following:
a. Officials from various regions camped out at hotels in Zhengzhou, where Foxconn had its main operations.
b. Zhengzhou created a special economic zone for the project and provided a $250 million loan to Apple.
c. The Shenzhen government saw the factory as a huge opportunity for development in an area that had been bypassed by China’s boom, and officials wanted to rebrand a place derided as a source of migrant laborers and unfairly tarnished as a land of thieves and counterfeiters.
d. The Zhengzhou government also pledged to spend more than $10 billion to build a new airport, just a few miles away from the factory.
e. Zhengzhou City officials lavished money and favorable investment terms on Foxconn, and they promised discounted energy and transportation costs, lower social insurance payments, and more than $1.5 billion in grants for the construction of factories and dormitories that could house hundreds of thousands of workers.



In the article by David Barboza, An iPhone’s Journey, From the Factory Floor to the Retail Store, NY Times, December 29, 2016, the factory that builds iPhone is described as all the following, except
a. The operation does what is called F.A.T.P., or final assembly, testing and packaging.
b. Roughly 350 iPhones can be produced each minute in the factory of Foxconn, Zhengzhou.
c. There are 94 production lines at the Zhengzhou manufacturing site, and it takes about 400 steps to assemble the iPhone, including polishing, soldering, drilling and fitting screws.
d. After the iPhone rolls off the assembly line, it is placed in a sleek white fiberboard box, wrapped and put on a wooden pallet, and then wheeled out to waiting trucks.
e. Foxconn’s facilities in Zhengzhou cover 2.2 square miles and can employ up to 350,000 workers, many of whom earn about a third of the minimum wage of NY workers.


In the article by Matthew Campbell, Is Emirates Airline Running Out of Sky? BloombergBusinessweek, ‎January‎ ‎05‎, ‎2017‎, Emirates’ superconnector model faces which of the following challenges?
a. In Istanbul, an airport that may be as large as Dubai World Central is under construction and could eventually allow Turkish Airlines to become a global challenger.
b. In Beijing, Shanghai, and Guangzhou, the major Chinese airlines are using the same geographic advantages to expand, as the passengers from Europe and America are directed to the Chinese cities then redirect them to their destinations in Asia or other parts of the world.
c. The superconnector model itself might fall apart, as the proliferation of lighter, fuel-efficient jets such as the Boeing 787 are making maximum long-haul routes which are less than 4,000 nautical miles between smaller cities economical, reducing the role for megahubs of all stripes.
d. Qantas airlines is using the same geographic advantages to expand, cloning the “superconnector” model pioneered in Dubai.
e. United Airlines use its hubs in Denver and Chicago as superconnector model, and its strategy works out very well.



In the article by Matthew Campbell, Is Emirates Airline Running Out of Sky? BloombergBusinessweek, ‎January‎ ‎05‎, ‎2017‎, the major international hurdles may include the following:
a. The bigger threat may lie in the U.S., the world’s most lucrative travel market, where Emirates has been expanding aggressively, and in China, the world fastest growing air travel market.
b. The challenges from around the world major markets claim that Emirates make the world less hospitable.
c. The U.S. Big Three are intensifying a lobbying campaign against Emirates.
d. The major Europe airlines argue that deep-pocketed foreigners are threatening local jobs by flooding the market with subsidized capacity.
e. The U.S. airlines, including Big Three, JetBlue and Alaska Airlines are lobbying against Emirates and many other foreign airlines, seeking to curtail their access to American airports unless “unfair subsidies” are eliminated.



In the article by David Barboza, How China Built ‘iPhone, NY Times, December 29, 2016, Apple has experienced the following with the Chinese regulators and authorities:
a. Apple is now engaged in the corporate version of shuttle diplomacy with Mr. Trump in New York, part of an effort to gain support from the incoming administration.
b. The Chinese authorities fined the technology giant for failure to fully pay its taxes.
c. Apple’s Cook will be on good-will tour in China in the near future to mend its relationships with the Chinese authority.
d. Regulators shut down Apple’s Store last spring, just six months after the services were introduced in China.
e. Apple went through a national security review in China for the iPhone 7, delaying its release in the country.

Ch 7

2) Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent.

a. What would be the size of the U.S. labor force?

b. If 85 million adults are not working, what is the unemployment rate?

3) Determine whether each of the following would be considered frictional, structural, seasonal, or cyclical unemployment:

a. A UPS employee who was hired for the Christmas season is laid off after Christmas

b. A worker is laid off due to reduced aggregate demand in the economy.

c. A worker in a DVD rental store becomes unemployed as video-on-demand cable service becomes more popular.

d. A new college graduate is looking for employment.

5) When the economy is at full employment, is the unemployment rate at zero percent? Why or why not? How would a more generous unemployment insurance system affect the full employment figure?

7) Here are some recent data on the U.S. consumer price index:

YEAR CPI YEAR CPI YEAR CPI

1992 140.3 1999 166.6 2006 201.6

1993 144.5 2000 172.2 2007 207.3

1994 148.2 2001 177.1 2008 215.3

1995 152.4 2002 179.9 2009 214.5

1996 156.9 2003 184.0 2010 218.1

1997 160.5 2004 188.9 2011 224.9

1998 163.0 2005 195.3 2012 229.6

Compute the inflation rate for each year 1993 – 2012 and determine which were years of inflation. In which years did deflation occur? In which years did disinflation occur? Was there hyperinflation in any year?

Ch 8

1) How do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living?

5) Supposed that two nation start out in 2013 with identical levels of output per work hour – say, $100 per hour. In the first nation, labor productivity grows by 1 percent per year. In the second, it grows by 2 percent per year. Use a calculate or spreadsheet to determine how much output per hour each nation will be producing 20 years later, assuming that labor productivity growth rates do not change. The, determine how much each will be producing per hour 100 years later. What do your results tell you about the effect of small differences in productivity growth rates?

7) What are some examples, other than those given in the chapter of technological change that has caused unemployment? And what are some examples of new technologies that have created jobs? How do you think you might measure the net impact of technological change on overall employment and GDP in the United States?

Ch 7

2) Suppose that the U.S. noninstitutional adult population is 230 million and the labor force participation rate is 67 percent.

a. What would be the size of the U.S. labor force?

b. If 85 million adults are not working, what is the unemployment rate?

3) Determine whether each of the following would be considered frictional, structural, seasonal, or cyclical unemployment:

a. A UPS employee who was hired for the Christmas season is laid off after Christmas

b. A worker is laid off due to reduced aggregate demand in the economy.

c. A worker in a DVD rental store becomes unemployed as video-on-demand cable service becomes more popular.

d. A new college graduate is looking for employment.

5) When the economy is at full employment, is the unemployment rate at zero percent? Why or why not? How would a more generous unemployment insurance system affect the full employment figure?

7) Here are some recent data on the U.S. consumer price index:

YEAR CPI YEAR CPI YEAR CPI

1992 140.3 1999 166.6 2006 201.6

1993 144.5 2000 172.2 2007 207.3

1994 148.2 2001 177.1 2008 215.3

1995 152.4 2002 179.9 2009 214.5

1996 156.9 2003 184.0 2010 218.1

1997 160.5 2004 188.9 2011 224.9

1998 163.0 2005 195.3 2012 229.6

Compute the inflation rate for each year 1993 – 2012 and determine which were years of inflation. In which years did deflation occur? In which years did disinflation occur? Was there hyperinflation in any year?

Ch 8

1) How do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living?

5) Supposed that two nation start out in 2013 with identical levels of output per work hour – say, $100 per hour. In the first nation, labor productivity grows by 1 percent per year. In the second, it grows by 2 percent per year. Use a calculate or spreadsheet to determine how much output per hour each nation will be producing 20 years later, assuming that labor productivity growth rates do not change. The, determine how much each will be producing per hour 100 years later. What do your results tell you about the effect of small differences in productivity growth rates?

7) What are some examples, other than those given in the chapter of technological change that has caused unemployment? And what are some examples of new technologies that have created jobs? How do you think you might measure the net impact of technological change on overall employment and GDP in the United States?

Demand curve:

The demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at any given price. It is a graphic representation of a market demand schedule. The demand curve for all consumers together follows from the demand curve of every individual consumer: the individual demands at each price are added together, assuming independent decision-making. Demand curves are used to estimate behaviors in a competitive market and are often combined with supply curves to estimates the equilibrium price. Demand curves are usually considered as theoretical structures that are expected to exist in the real world, but real-world measurements of actual demand curves are difficult and rare.

The demand curve will move downward from the left to the right, which expresses the law of demand.

If the price of corn rises, consumers will have an incentive to buy less corn and substitute other foods, so the total quantity of corn consumers’ demand will fall. The degree to which rising price translates into falling demand is called demand elasticity or price elasticity of demand. If a factor besides price or quantity changes, a new demand curve needs to be drawn. For example, say that the population of an area explodes, increasing the number of mouths to feed. In this scenario, more corn will be demanded even if the price remains the same, meaning that the curve itself shifts to the right.          

According to my view, the demand curve for the Apple Video iPod will increase. According to the given paragraph iPod is thinner and lighter. The hardware and software ecosystem offers good content options and also portable. These are the main qualities expected by the customers. Henceforth customer wants to buy this product in the future also. If the price of the product increases in the future the demand for the product also increases because customers demand more products thinking of price increase in the future. At the same time if the price decreases in this case also customers will buy the product because they think that the good product is coming at a reasonable price. The demand curve for Apple Video iPod in the future may be like follows.

What is your opinion on a competitor product which has similar features to that of an i-pad or say it is better than i-pad and is offered at a comparatively cheaper price, how this will affect the i-pad demand curve and why?

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