Past Exam for ECON 100A - Interm Macroecon Theory at Cal State-Sacramento (CSUS)

Exam Information

Material Type:Exam
Class:ECON 100A - Interm Macroecon Theory
University:California State University - Sacramento
Term: 2010
  • Price Index
  • Movie Theater
  • Understatement
  • Overstatement
  • Inflation Rate
  • Association
  • Employment at Will
  • Employment-at-Will
  • Market Basket
  • Determinants
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Sample Document Text

CALIFORNIA STATE UNIVERSITY - SACRAMENTO Handout ECON 100A: Intermediate Macroeconomic Theory Constructing Price Indices Prof. Van Gaasbeck The National Film Association developed the Movie Price Index (MPI) in 1998 based upon the annual purchases of a typical moviegoer. Information on the market basket for the MPI and the prices for each of the goods in 1998, which is the base year, and in 2001 and 2002 is shown in the table below. Good Quantity 1998 2001 2002 Movie tickets 10 $5 $7 $8 Tubs of popcorn 7 $6 $5 $4 Boxes of candy 5 $2 $3 $4 Sodas 11 $2 $3 $3 Calculate the cost of the market basket in each year. Year Cost of Market Basket Cost of Basket in Year t/ Cost of basket in base year Movie Price Index (1998 = 100) 1998 ___________ ___________ ___________ 2001 ___________ ___________ ___________ 2002 ___________ ___________ ___________ Construct the price index (Movie Price Index, MPI), using 1998 as t...

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