b. 1999
c.2009
d. 2019
7.Given the data in these tables, can you compute the value of the core CPI in 2019?
yes or no
The following two tables are used in all the following questions. Thus, part of the followingquestions involve determining exactly what you need for each question. Please assume that forGDP calculations, only two things are produced in this economy: houses (a good) and dogwalking (a service). Please ignore coffee for the GDP calculations. Also, assume that 2018 is thebase year for GDP calculations. The base year for the CPI is not given. Year Houses Produced Average House Dogs Walked Average Dog Walking(millions) Price (millions) Fee 2018 1.00 $200,000 1,000 $25.00 2019 1.01 $208,000 1,010 $25.10 Year Nominal price of a cup of CPI CPI Market Nominal interest rate oncoffee Basket a car loan 1989 $1.70 180 $28,800 5% 1999 $1.85 200 $32,000 3% 2009 $1.95 220 $35,200 2% 2018 $1.98 245 $39,200 5% 2019 $2.00 250 $40,000 6%
