AB 204 STUDY Education Terms/ab204study.com AB 204 STUDY Education Terms/ab204study.com | Page 6

AB 204 Unit 5 Assignment

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Assume there is a simple economy where people consume only 2
goods, food and clothing. Further assume that the market basket of
goods used to compute the CPI consists of 100 units of food and 20
units of clothing.

2) Calculate how much each of the following items is worth in terms
of today's dollars using 180 as the price index for today.

3) The table below uses data for 3 hypothetical countries. All the
number values are in thousands. Complete the blank entries in the
table below.

4) The following table indicates U.S. real GDP data. Calculate real
GDP per person for 1987 and 2005. Then use real GDP per capita to
compute the percentage change in real GDP per person from 1987
to 2005.
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AB 204 Unit 6 Assignment