How do you calculate CPI 4.5.3 | Inflation Scenarios Instructions Read the following scenarios about prices in
Fantastic news! We've Found the answer you've been seeking!
Question:
How do you calculate CPI
Transcribed Image Text:
4.5.3 | Inflation Scenarios Instructions Read the following scenarios about prices in the 1920s and calculate how much each price would be in 2022 dollars. • The 2022 CPI is about 16.43 times the 1925 CPI. .Reflecting that inflation rate, in 1928 a Chrysler sedan automobile cost $2,995. In 2022 dollars that same car would cost $41,110.67 ($2,995 X 16.43 = $49,207.85). Calculate and enter how much each price would be in 2022 dollars, rounding up to the nearest cent. 1. In 1922, a pound of bacon cost $0.15. In 2022, it would cost $ 2. In 1922, a pound of coffee cost $0.47. In 2022, it would cost $ 3. In 1922, a new camera cost $80. In 2022, it would cost $ 4. In 1922, a toaster cost $6.75. In 2022, it would cost $ 5. In 1922, a dozen eggs cost $0.25. In 2022, it would cost $ 4.5.3 | Inflation Scenarios Instructions Read the following scenarios about prices in the 1920s and calculate how much each price would be in 2022 dollars. • The 2022 CPI is about 16.43 times the 1925 CPI. .Reflecting that inflation rate, in 1928 a Chrysler sedan automobile cost $2,995. In 2022 dollars that same car would cost $41,110.67 ($2,995 X 16.43 = $49,207.85). Calculate and enter how much each price would be in 2022 dollars, rounding up to the nearest cent. 1. In 1922, a pound of bacon cost $0.15. In 2022, it would cost $ 2. In 1922, a pound of coffee cost $0.47. In 2022, it would cost $ 3. In 1922, a new camera cost $80. In 2022, it would cost $ 4. In 1922, a toaster cost $6.75. In 2022, it would cost $ 5. In 1922, a dozen eggs cost $0.25. In 2022, it would cost $
Expert Answer:
Answer rating: 100% (QA)
To calculate the price of an item in 2022 dollars using the Consumer Price Index CPI you would follo... View the full answer
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Posted Date:
Students also viewed these economics questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
DEFINE TABLE AUTHORS WITH COLUMNS AUTHORID INT AND AUTHORNAME VARCHAR(30),ADD COLUMN LEVEL PRIMARY KEY CONSTRAINT FOR AUTHORID, ADD COLUMN LEVEL NOT NULL CONSTRAINT FOR AUTHORNAME 2. DEFINE TABLE...
-
Today's price of IBM's common stock is $150. A May 2018 call option on this IBM stock has an exercise price of $150 and costs $5. A May 2018 put option on this stock also has an exercise price of...
-
Maximum efficiency of Parson's reaction turbine is equal to: (a) \(\frac{\cos ^{2} \alpha}{1+2 \cos ^{2} \alpha}\) (b) \(\frac{2 \cos ^{2} \alpha}{1+\cos ^{2} \alpha}\) (c) \(\frac{1+2 \cos ^{2}...
-
You are the financial controller of Garla Ltd, an Australian company listed on the ASX that sells premium Australian wines into overseas markets. Garlas sales of inventories in foreign currency...
-
Natalie Koebel spent much of her childhood learning the art of cookie-making from her grandmother. They passed many happy hours mastering every type of cookie imaginable and later creating new...
-
19. Consider the given arrangement. The two slits S and S are illuminated by monochromatic light of wavelength A. Slits S3 and S4 are at separation d minimum intensity on the screen will be 2.D =...
-
m 30C Haze n 4. Question 4 An online store wants to analyze various aspects of using coupons, including the distribution of discounts and savings. The company is developing a report that displays the...
-
A local law firm has eleven lawyers. One Lawyer has been sued for several million dollars as the results of a recent case. Because of what appears to be the lawyers very poor judgment, one of the...
-
You just finished your third year as a Managing Director in an Investment Bank, and just received your bonus and now have excess cash to invest for the next 60 days while awaiting delivery of your...
-
Based on the financials, what was their cash balance for the most recent year, and how did it compare to the prior year? How much did they spend on R&D costs during the most recent year, and what was...
-
A company manufactures two products, tables and chairs. The sales volume of the tables is at least 80% of the total sales of tables and chairs. However, the company cannot sell more than 100 table...
-
3. Find the constant term in the expansion of (a) (z + ) * 5 (c) (3x 7x 4 9 2 5x (b) (3x 5) (d) (1 - 2 +2) (32-7953) 7x - 6
-
Disucss at least three specific financial ratios that creditors or investors would be most interested in when analyzing financial statements, and why for ank providing short - term financing and bank...
-
A ball falls from a rest to a floor from a height of two meters. In each encounter with the floor, the ball loses five percent of its energy. A. What is the maximum height the ball will reach after...
-
General Electric Capital, a division of General Electric, uses long-term debt extensively. In a recent year, GE Capital issued $11 billion in long-term debt to investors, then within days filed legal...
-
In those audits where a heightened risk of fraud exists related to inventory and cost of goods sold, the auditor will want to consider performing certain fraud-related substantive procedures. List at...
-
What are the types of subsequent events the auditor should identify and evaluate as part of performing an audit? Give an example of each type of subsequent event. How should each type be handled in...
-
Auditing standards indicate that if the preliminary control risk assessment is low, the auditor must gain assurance that the controls are operating effectively. a. What is meant by testing the...
-
A Consider \[\begin{cases}\dot{x}_{1}=-x_{1}\left|x_{1} ight|+a x_{2}-\frac{2}{3}+\sin t & x_{1}(0)=\frac{2}{3} \\ \dot{x}_{2}=-x_{1}-\frac{1}{2} x_{2}-1, & x_{2}(0)=1\end{cases}\] where \(a\) is a...
-
A first-order dynamic system is modeled as \[\dot{y}+3 y=f(t), y(0)=1\] Assuming the input \(f(t)\) is a step function with magnitude 0.8 , find \(y_{s s}\).
-
The pendulum system in Figure 8.35 consists of a uniform thin rod of length \(l\) and a concentrated mass \(m\) at its tip. The friction at the pivot causes the system to be damped. When the angular...
Study smarter with the SolutionInn App