Complete each of the following. a. In 2020, the population of Ethiopia was 1.65 times as large as the population of Thailand. We can also say that the population of Ethiopia was percent of the population of Thailand. b. In 2020, the price of a Toyota Camry was 103% of the price of a Honda Accord. We can also say that the price of a Toyota Camry was times as large as the price of a Honda Accord. c. During the 2019 baseball season, the Colorado Rockies had 0.845 times as many wins as the Boston Red Sox. We can also say that the Rockies had percent of the Red Sox's wins. d. When you visited the grocery store, you noticed that the price for a pint of store brand ice cream was 75.5% of the price for the name brand. We can also say that the store brand cost times as much as the name brand. Calculate the percent change in the price of each item or service. Remember that if the price decreases then the percent change will be a negative number. a. The price of a jar of peanut butter went from $5.99 to $6.89. What was the percent change in the price? % b. The cost of a haircut was reduced for a holiday weekend from $13.99 to $7.99. What was the percent change in the price?
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Calculate the percent change in the price of each item or service. Remember that if the price decreases, then the percent change will be a negative number. The price of a jar of peanut butter went from $5.99 to $6.89. What was the percent change in the price? Try again. There are two primary ways to determine this value. First, you can determine the change in price and compare this value to the original price (making sure to use a negative number if the percent change is negative). Alternatively, you can compare the two given prices and determine what percent of the original price remains. This can help you then determine the percent change in the price. Preview: The cost of a haircut was reduced for a holiday weekend from $13.99 to $7.99. What was the percent change in the price? Try again: There are two primary ways to determine this value. First, you can determine the change in price and compare this value to the original price (making sure to use a negative number if the percent change is negative). Alternatively, you can compare the two given prices and determine what percent of the original price remains. This can help you then determine the percent change in the price. Preview: The cost of an oil change increased to $43.99 from $39.95. What was the percent change in the price? Preview: The price of a new car was reduced to $22,959.00 from its original price of $24,899.00. What was the percent change in the price? Preview:
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A gallon of milk cost $2.48 in 1995, while a gallon of milk cost $3.57 in 2011. Using 1995 as the base year, what is the gallon of milk index number for 2011? A) 0.69 B) $0.69 C) $1.44 D) 69 E) 144 The breakfast fixed market basket consists of one gallon of milk, one pound of sliced bacon, and one dozen eggs. In 1995, the gallon of milk cost $2.48, the pound of sliced bacon cost $1.99, and the dozen eggs cost $0.93. In 2011, the gallon of milk cost $3.57, the pound of sliced bacon cost $4.63, and the dozen eggs cost $1.77. What is the breakfast fixed market basket price index in 2011 using 1995 as the base year? A) 185 B) 54 C) $1.85 D) $0.54 E) 0.54 In-state tuition and fees at Virginia Commonwealth University (VCU) was $9517 for the 2011–12 academic year. The CPI for 2011 was 224.9 and the CPI for 2001 was 177.1. What is the 2011–2012 tuition in 2001 dollars? A) $1270 B) $1642 C) $7494 D) $7875 E) $12,086 In 2011, consumers tended to buy bigger-screen TV sets than they did in the 1982–84 base period. How does the CPI reflect this fact? A) It doesn't because it uses a fixed market basket. B) It can't possibly because, if it did, the price of TVs would have gone up instead of down. C) Every month, there is a new Consumer Expenditure Survey, which records what consumers actually buy, so the market basket changes every month. D) The Bureau of Labor Statistics (BLS) adjusts the actual price to subtract out the part that pays for improved quality. E) The BLS corrects by using a different base period.
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