ECON 1000 Study Guide - Final Guide: 3, Arbitrage, Kenyan Shilling
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Multiple choice answer sheet macro final april 2011. Use upper case letters to answer: __________c, __________c, __________c, __________b, __________a, __________c, __________a, __________b, __________b, __________c, __________d, __________c, __________c, __________d, __________a, __________c, __________d, __________c, __________a. Short answer questions: a) explain how the consumer price index is calculated, the average person in 2010 buys 10 apples at each, and 10 bananas at each. 2011 apples rise to each and bananas rise to each. Calculate the inflation rate. (you will not need a calculator!: explain one reason why the cpi might be biased, and whether it would overestimate or underestimate inflation. Section a: determine basket of g & s bought by typical consumer. Determine what prices are most important to the typical consumer and set weights according to the importance of products to consumers: find prices for each g & s in the basket over time.
