Real wage rate (2007 dollars per hour) 15 20 25 30 35 Quantity of labour demanded (billions of hours per year) 70 60 50 40 30 Quantity of labour
September 3, 2020
Real GDP (billions of 2002 dollars) W Labour (billions of hours per year) Figure 22.3.1 7) Refer to Figure 22.3.1. In the above figure the country of…
September 3, 2020

From the data in Table 21.3.2. What is Southton’s consumer price index for the current year and what is the rate of inflation over the base year? Show your calculations.

Table 21. 3. 2Data from SouthtonPricePriceQuantityQuantity( dollars )( dollars )( number )( number )ItemBaseCurrentBaseCurrent*Rubber Ducks1 .001 . 25100100Beach Towels9.006.001214

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