03 Jun Question Scenario Usethefollowinginformationtoanswerquestions24
Question
Scenario
Usethefollowinginformationtoanswerquestions24.
TheNationalFilmAssociationdevelopedtheMoviePriceIndex(MPI)in1998basedupontheannualpurchasesofa
typicalmoviegoer.InformationonthemarketbasketfortheMPIandthepricesforeachofthegoodsin1998,whichis
thebaseyear,andin2001and2002isshowninthetablebelow.
2.) Calculate the cost of the market basket in 2001. You may need to use this answer for other parts of this
problem. Either write your answer on a piece of scrap paper or use the navigation links at the bottom of the
page to return to this page and see your answer.
a.) $153
b.) $134
c.) $177
d.) $180
3.) Calculate the Movie Price Index for 2001 using 1998 as the base year for the index. You may need to use
this answer for other parts of this problem. Either write your answer on a piece of scrap paper or use the
navigation links at the bottom of the page to return to this page and see your answer.
a.) 123
b.) 100 c.) 141
d.) 89
e.) 101
4.) Using the price indexes, calculate the inflation rate facing moviegoers between 2001 and 2002. You may
need to use answers from previous parts of this problem. If you did not write your answers on a piece of scrap
paper, use the navigation links at the bottom of the page to return to previous pages and see your answers.
a.) 6.1% b.) 5.7% c.) 7.0% d.) 30.0%
5.) In which year did buyers of six-month Treasury bills receive the highest real return on their investment?
(If you want to use your graph to help answer this question, use the navigation links at the bottom of the page
to return to the previous problem.)
a.) 1974
b.) 1975
c.) 1976
d.) 1977
e.) 1978
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