How to find rate of inflation (1 Viewer)

[alishasharma]

i was doing te 2009 hsc economics paper and q.21 (a) is asking for which expenditure group contributed most to the inflation rate?

How do i find the inflation rate from the weighting of the CPI and CPI by expenditure group?

plz help

 

[michaeljennings]

I posted this question a couple of months back and no one replied lol hopefully you get an answer. I think it would help if you took a screenshot of the thing and posted it here so its easier for people to see

 

[BloomyLove]

Inflation Rate= % change in CPI = Change in CPI/CPI from previous year * 100.

hope that helps.

 

[powlmao]

The Question is

The table shows Consumer Price Index (CPI) data by expenditure group for an economy.
Expenditure
Weighting factor in
CPI by expenditure
group
CPI (%)
group
Food
15
120
Housing
20
110
Health
5
150
(a)
Which expenditure group contributed most to the inflation rate?

 

[michaeljennings]

The Question is

The table shows Consumer Price Index (CPI) data by expenditure group for an economy.
Expenditure
Weighting factor in
CPI by expenditure
group
CPI (%)
group
Food
15
120
Housing
20
110
Health
5
150
(a)
Which expenditure group contributed most to the inflation rate?

+1

 

[khfreakau]

yeah, i've actually been mindfucked by these types of questions as well. I have no idea how they work. I know the answer to this question is Food, but i have no idea why.

 

[michaeljennings]

yeah, i've actually been mindfucked by these types of questions as well. I have no idea how they work. I know the answer to this question is Food, but i have no idea why.

Do you suppose its not required in the syllabus anymore? Cos our teacher never went through this with us

 

[d3st1nyLiang]

off the top of my head, it's food because it gives the largest value: i.e. 120-100=20 (inflation) times 15

the others are like 10x20 ; 5x50

 

[powlmao]

+1

lol you actullay never add rep to me.


I hate Economics maths ,it is really easy but you just stand there asking why is it like this.

 

[khfreakau]

off the top of my head, it's food because it gives the largest value: i.e. 120-100=20 (inflation) times 15

the others are like 10x20 ; 5x50

This makes almost no sense to me... @___@ why would you do that..

 

[alishasharma]

this just looks too confusing so im not gonna bother