ATAR Notes: Forum
HSC Stuff => HSC Subjects + Help => Topic started by: jelena_nina2001 on October 09, 2019, 06:07:21 pm
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hey peeps how would the answer be "food" (2009 HSC Economics question)
thanks in advance x
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hey peeps how would the answer be "food" (2009 HSC Economics question)
thanks in advance x
Hiya!
Not sure how this is meant to be done, but I'd just process of elimination it.
So it can't be housing because it has the least weighting factor (@ 5%)
And I'd eliminate housing because it has the least expenditure (@ 110)
So food is the only one that remains consistent with both factors, which means it has impacted inflation the most.
Hope this helps!
meerae :)
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hey peeps how would the answer be "food" (2009 HSC Economics question)
thanks in advance x
Hey!
Ah yes, this probably one of the hardest types of economics questions you will come across. It occurred in my trial last year and I was the only person in my whole class who got it right! So basically you are wanting to find the weight of the CPI for each of the goods.
So, to do that you have to find the inflation rate in each year and then times it by the percentage (in decimal form) each year. If you do that, the highest weight should be food, hence the answer!
Hope this helps :)