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Assignment Task   Question 1 The following set of information refer to economic activities undertaken in the country of Ploteca in 2020: *The total value of consumption was $4 billion, a quarter of which were of goods initially produced in 2019. As well, $0.8 billion of the total $4 billion were bought by foreigners living in Plote... Get Start

Assignemnt Task: Task: Question 1 on Topic 4 (10 marks) (a) The average hourly wage in 1975 was $6.50, and $17 in 2002. CPI stood at 42 in 1975 and the CPI base year is 2002. (i) Calculate the rate of inflation between 1975 and 2002. Inflation is calculated from the change in CPI  = 138.1% (ii) What is the averag... Get Start

Assignment Task : Question 1   The average hourly wage in 1975 was $6.50, and $17 in 2002. CPI stood at 42 in 1975 and the CPI base year is 2002.  Calculate the rate of inflation between 1975 and 2002.  What is the average hourly wage in 2002 in real terms (i.e. in terms of the 1975 average hourly wag... Get Start

Assignment Task: Task: Question 1 on Topic 4 (10 marks) (a) The average hourly wage in 1975 was $6.50, and $17 in 2002. CPI stood at 42 in 1975 and the CPI base year is 2002. (i) Calculate the rate of inflation between 1975 and 2002. Inflation is calculated from the change in CPI  = 138.1% (ii) What is the average hourly wage i... Get Start