October 21, 2019, 04:37:18 pm

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#### jelena_nina2001

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« on: October 09, 2019, 06:07:21 pm »
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hey peeps how would the answer be "food" (2009 HSC Economics question)

#### meerae

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« Reply #1 on: October 10, 2019, 09:25:24 pm »
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hey peeps how would the answer be "food" (2009 HSC Economics question)

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
2018 hsc; mathematics
2019 hsc; english adv english ext 1&2 math ext 1 legal studies economics

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#### emilyygeorgexx

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« Reply #2 on: October 11, 2019, 08:23:14 am »
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hey peeps how would the answer be "food" (2009 HSC Economics question)

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
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English Advanced (90) | General Mathematics 2 (95) | Business Studies (98 - 6th in NSW) | Legal Studies (94) | Economics (93) | Studies of Religion 1 (48)

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