Answer the following questions:
1.In an economy a typical consumer purchases 4 notebooks and 5 pens. The price of these products is given in the table below for three years.
From the information given in the table above (assuming 2017 as the base year)calculate:
2.How much of the following items would be worth in today's dollars if today's CPI is 260?
3.Refer to the table below for an imaginary economy of Flowerland.
Based on the information given in the table calculate;
4.In an imaginary economy of Cotton Land, 190,000 tons of cotton were produced in a day. The number of people who were involved in this production was 4500 and each of them worked for 8 hours. Further, there are 50 companies that employed these people in their processing plants. Calculate the productivity of this economy.
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