Inflation rates
Not what you're looking for?
Please help me with the following problems.
1. Complete the table (see attached) by filling in the banks.
2. Which Decade has the most inflation?
3. How much did consumer prices change during the Great Depression from 1930 to 1940.
4. In 1925, the cost of a Model T Ford was $290. What is the equivalent cost at 2008 price levels using the CPT?
5. From 2000 to 2008, which of the following prices increased the most? (Use data from the Consumer Prices - All Urban Consumers page in the Economic Indicators posted under Handouts in Blackboard):
- food
- owners' equivalent rent
- apparel
- transportation
- medical care
(see attached file for remaining problems)
Purchase this Solution
Solution Summary
Inflation rates are calculated and assessed in this solution.
Solution Preview
See attached. I have included a Word document, and a PDF document just in case there are issues with the graphs on the Word document.
1. Inflation data is as follows:
Inflation rates are calculated using the following formula:
Inflation = ((Change in CPI)/(Average CPI of the Intervening Years))*100
Thus to find the inflation rate from 1940 to 1950, the expression is
Inflation = ((24.1 - 14.0)/((24.1 + 14.0)/2))*100 = 53.02%.
2. As you can see from the table the decade with highest inflation rate was the 1970s. Between ...
Purchase this Solution
Free BrainMass Quizzes
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.