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- If the rate of inflation is 7 percent per year, the price level will double in aboutAfter graduating from college in 2020, Art Major's starting salary is $40757.0040757.00. Suppose Art Major has a cost of living adjustment (COLA) clause, or an escalator clause, in his labor contract so that he will be able to maintain this same level of purchasing power in real terms in 2021 and 2022. Using the information in the table, how much will Art Major earn in 2021 and 2022 if his salary keeps up with inflation? Round your answers to the nearest dollar. Year CPI 2020 101.77 2021 106.80 2022 109.35 What is Art Major's salary in 2021? $ What is Art Major's salary in 2022? $Use the information in the table to calculate the %change in prices (inflation rate), using a chain-weighted methodology. Q1=2 Q2=3 Year (t) P1 E1 P2 E2 E(t) 2017 $1.05 $2.00 2018 $1.10 $2.10 2019 $1.10 $2.15 2020 $1.15 $2.15 Price Index Inflation Rate 2017 2018 2019 2020 Question 1: What is the inflation rate for 2019? a) 1.76% b) 1.16% c) -0.60% d) -3.02
- 8. Assume that S, = 1.60 USD/GBP. How will this spot rate adjust according to PPP if the United Kingdom experiences an inflation rate of 5% while the U.S. experiences an inflation rate of 3%?After graduating from college in 2010, Art Major's starting salary is $30757.00. Suppose Art Major has a cost of living adjustment (COLA) clause, or an escalator clause, in his labor contract so that he will be able to maintain this same level of purchasing power in real terms in 2011 and 2012. Using the information in the table, how much will Art Major earn in 2011 and 2012 if his salary keeps up with inflation? Round your answers to the nearest dollar. Year CPI 2010 103.77 2011 104.90 2012 111.17 What is Art Major's salary in 2011? 2$ 31092.25 What is Art Major's salary in 2012? 52686.74 IncoriectBob loans his sister-in-law $1000 so she can make her rent. She must pay it back after one year. If Bob charges her 6 percent interest and wants to get a real return (real interest) of 3.5 percent, Bob must anticipate that inflation will be___________ percent over the next year. (Carefully follow all numeric instructions. Enter your answer "as a percent, but without the percentage sign." In other words, if you think Bob predicts 99.99 percent inflation, just enter 99.99 in the blank.)
- The graph depicts a hypothetical economy's short-run Philips curve (SRPC). Please shift the SRPC to reflect what happens when expected inflation decreases by 2 percentage points. After the shift in SRPC, what is the unemployment rate if the public expects no inflation in the economy? % Inflation rate (%) -1 -2 0 7 6 SRPC 5 4 3 2 -3 0 1 2 3 4 5 6 7 8 0 102-1 Justin's demand for good 1 is given by the formula: x (p1, p2, I) = Suppose... 4-P1+6-p2 P1=$7/unit P2=$4/unit and I=$214 By how much will Justin's consumption of good 1 change if all prices AND his income were t increase by the same percent, as is the case here, this is called "pure inflation"). (Note: The numbers may change between questions, so read carefully) (Note: The answer may not be a whole number, so round to the nearest hundredth) 2-1 Justin's demand for good 1 is given by the formula: 2f (P1, P2, I) = how mucl 4-P1+6-p2 1=$2/unit 2=$2/unit nd =$531 Jote: The numbers may change between questions, so read carefully) Jote: The answer may not be a whole number, so round to the nearest hundredth)What are two possible negative outcomes of the increased inflation to 7.3% currently in Australia? don't provide plagiarism a
- Explain how food inflation may be economically impacting the following stakeholders of the grocery industry: i) companies & non-profits, ii) individuals and iii) the government.If the price level increased from 120 to 142, then what was the inflation rate? 1.2 percent 0.8 percent 18.3 percent 22.0 percenta)Suppose that on January 1, 2019 a bank lends $20,000 to a person. The bank and the individual both agree that the real interest rate charged on the loan should be 10% and the loan is going to be totally paid ($20,000 plus interest), in a one-time payment, on December 31, 2020. Suppose the two parties to this transaction can perfectly foresee what the inflation rate for this period is going to be. b) Assume the same conditions exist as in the paragraph a but now the bank and the borrower cannot predict the inflation rate perfectly. Assume that both the bank and the borrower expect an inflation rate of 8% over this period of time. Given this information, what is the nominal rate charged on the loan now? Given the actual inflation rate (from your calculations and the provided data), who wins from this loan contract and who loses from this loan contract? Explain your answer fully. What if the expected inflation rate is 4% during this period? Does your answer change as to who wins and…
