ECON 2030 Chapter : Econ 2030
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Disney World charges $140 for one round of golf from morning until 2:00 PM and $60 for one round of golf from 2:00 PM until closing. Suppose the marginal cost of one round is $20.
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Calculate Inflation for 2012 taking CPI as 100 for the base year 2010. The market bundle is 5 Oranges, 5 portions of bacon and 7 Drinks. Prices ($) are as follows
|
2010 |
2011 |
2012 |
Orange |
2 |
4 |
5 |
Bacon |
4 |
6 |
6 |
Drinks |
1 |
1.5 |
1.9 |
Calculate the CPI and inflation for 2012 using 2011 as the base year.
The market bundle is 5 Oranges, 5 portions of bacon and 7 Drinks. Prices ($) are as follows
|
2010 |
2011 |
2012 |
Orange |
2 |
4 |
5 |
Bacon |
4 |
6 |
6 |
Drinks |
1 |
1.5 |
1.9 |