What is the inflation rate from 2010 to 2011? b.Suppose that you have an income of $30,000 in 2008. How much would you need to be able to have the same standard of living in 2009?

Submit a 4- to 5-page paper that addresses the following questions. Be sure to use references within the paper to support your answers. Show work for all calculations 1.Suppose that in 2013, the economy produced 10 shirts at $20 each and 5 hamburgers at $5 each. In 2014, the economy produced 15 shirts at $21 each and 10 hamburgers at $6 each. What is the value of real GDP produced in 2014 using 2013 as the base year? What would be the growth in real GDP? 2.Why is there unemployment even when the economy is at “full employment”? What are some “costs of unemployment”? 3.Use the table below:

Year CPI 2008 100.0 2009 102.5 2010 106.0 2011 111.0

a.What is the inflation rate from 2010 to 2011? b.Suppose that you have an income of $30,000 in 2008. How much would you need to be able to have the same standard of living in 2009? c.What are some of the problems with using the CPI as a measure of standard of living? 4.Explain some limitations of using GDP as an indicator of standard of living (be sure to do some research on your own).

Calculate your order
275 words
Total price: $0.00

Top-quality papers guaranteed

54

100% original papers

We sell only unique pieces of writing completed according to your demands.

54

Confidential service

We use security encryption to keep your personal data protected.

54

Money-back guarantee

We can give your money back if something goes wrong with your order.

Enjoy the free features we offer to everyone

  1. Title page

    Get a free title page formatted according to the specifics of your particular style.

  2. Custom formatting

    Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.

  3. Bibliography page

    Don’t pay extra for a list of references that perfectly fits your academic needs.

  4. 24/7 support assistance

    Ask us a question anytime you need to—we don’t charge extra for supporting you!

Calculate how much your essay costs

Type of paper
Academic level
Deadline
550 words

How to place an order

  • Choose the number of pages, your academic level, and deadline
  • Push the orange button
  • Give instructions for your paper
  • Pay with PayPal or a credit card
  • Track the progress of your order
  • Approve and enjoy your custom paper

Ask experts to write you a cheap essay of excellent quality

Place an order

Order your essay today and save 7% with the discount code DISSERT7