Business, 18.06.2020 02:57 wiintrr30

A consumer expenditure survey reports the following information on consumer protein spending:201820192020PQPQPQFish$2.0 01000$2.501200$3.00900Beef$5.0050$4 .0075$6.00100Rent$800.00100$850.007 5$900.00105Car$20,000.0050$18,000.0 048$22,000.0060Movie$8.00160$10.001 80$10.00200Sugar$3.002000$2.002100$ 2.501800Hamburger$4.00200$4.50250$3 .50300a. Using 2018as the base year, by how much does a "cost of living" index increase between 2018and 2019; 2018 and 2020; and 2019 and 2020

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Answer from: myanniespencer39

(a) "Cost of living" index decrease by 14.42% between 2018 and 2019.

(b) "Cost of living" index increase by 30.73% between 2018 and 2020.

Explanation:

Note: See the attached excel file for the calculations of the "cost of living" index for eash of 2018, 2019, and 2020 using 2018 as the base year.

(a) by how much does a "cost of living" index increase between 2018 and 2019.

Cost of living index in 2018 = 100%

Cost of living index in 2019 = 85.68%

Increase (decrease) in cost of living index = Cost of living index in 2019 - Cost of living index in 2018 = 85.68% - 100% = (14.42%)

Therefore, "cost of living" index decrease by 14.42% between 2018 and 2019.

(b) by how much does a "cost of living" index increase between 2018 and 2020.

Cost of living index in 2018 = 100%

Cost of living index in 2020 = 130.73%

Increase (decrease) in cost of living index = Cost of living index in 2020 - Cost of living index in 2018 = 130.73% - 100% = 30.73%

Therefore, "cost of living" index increase by 30.73% between 2018 and 2020.

Cost of living index in 2019 = 85.68%

Cost of living index in 2020 = 130.73%

Increase (decrease) in cost of living index = Cost of living index in 2020 - Cost of living index in 2018 = 130.73% - 85.68% = 45.05%

Therefore, "cost of living" index increase by 45.05% between 2018 and 2020.

Answer from: Quest

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy

Answer from: Quest

They are enjoying the advantage of independence while running their own small business. they can go where they want when they want to, because they control the restaurant's hours. they can also make time for life emergencies, and set the hours to be when they do the best cooking.

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A consumer expenditure survey reports the following information on consumer protein spending:2018201...

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