Pekerjaan Rumah Pekan 4 - Kelompok 2 [PDF]

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Pekerjaan Rumah Pekan 4



KELOMPOK 2 Statekbis-D Nama kelompok : ● Syifa Farahdhia Siregar (2106636565) ● Muhamad Bismi Rabbik (2106637782) ● Stevani Patricia Bongginata (2106638261) ● Putri Sylvia Mewengkang (2106640682) Answer True (T) or False (F) and explain why. 1. The CPI is not just one index, but includes a large number of groups, subgroups and selected items, such as a food index, a medical care index and an entertainment index. - True. CPI mencakup semua harga yang dibayarkan konsumen untuk barang dan jasa yang representatif. 2. An index number is a percent that measures the change in price, quantity, value, or some other item of interest from one time to another. - True. Karena pernyataan tersebut merupakan definisi indeks harga. 3. All indexes have the same base, namely 1998-99, written 1998-99 = 100. - False. Periode dasar untuk satu indeks kemungkinan 1998-99, sedangkan periode dasar untuk indeks lain mungkin 1990. 4. If in the year 2000 the price index is 120 and the value of the price index in 2001 is 125, it implies that there was a 5% increase in the price level in 2001. - False. Pada tahun 2002, tingkat harga mengalami kenaikan namun hanya meningkat sebesar 0.04166666667 atau 4.167% 5. The weighted aggregate price index assigns a lower weight to the items that are sold in higher quantities. - False. Bobot yang lebih tinggi diberikan bagi barang-barang yang dijual dalam jumlah yang lebih tinggi. 6. The Laspeyres' method uses the amounts consumed in the base period, p0, as weights to determine a price index. - True. Indeks harga laspeyres digunakan untuk mengukur perubahan harga sekeranjang barang dan jasa relatif terhadap pembobotan periode dasar tertentu. 7. The CPI is used as a yardstick for revising wages, pensions and other income payments to keep pace with changes in prices or inflation. - True. IHK dapat digunakan untuk mengukur pendapatan riil karyawan pada tahun berjalan berdasarkan tahun dasar yang disesuaikan dengan perubahan harga tahun berjalan atau inflasi. 8. If we are constructing a weighted index of the price of food for 2007 using the Laspeyres' method and 1982-84 = 100, we use the amounts consumed in 2007, q0, as weights. - True. Laspeyres menggunakan bobot yang diambil dari periode dasar.



9. Price indices are used to remove the effect of inflation so that business and economic time series can be evaluated in a more meaningful way. - False. Indeks harga digunakan untuk menghitung perubahan biaya pembelian kombinasi barang tertentu setiap tahunnya, contohnya indeks harga konsumen dan indeks harga produsen. Dimana indeks harga digunakan untuk menghitung tingkat inflasi. 10. The Laspeyres and Paasche indices tend to differ when the length of time between the periods increases since the relative quantities of items adjust to the changes in consumer demand over time. - True. Seiring berjalannya waktu, konsumen cenderung menyesuaikan pola konsumsinya. Akibatnya, indeks paasche akan cenderung menghasilkan perkiraan yang lebih rendah daripada indeks laspeyres jika harga naik dan perkiraan yang lebih tinggi daripada indeks laspeyres jika turun.



Multiple Choice Questions 1. The following table shows the value of CPI for three years in a country.



What is the annual inflation rate for 2005? A. 1.46%. B. 3.36%. C. 4.87%. D. 1.8%. 2. Which of the following statements is true about the Laspeyres and Paasche indices? A. As long as the evaluation period is the same, the two indices usually yield the same value. B. The difference in the values of the two indices, if any, can usually account for the varying price levels across periods. C. The Laspeyres price index uses the current period quantities as weights, as opposed to the base period quantities used by the Paasche price index. D. The greater the length of time between periods, the higher the chances of variation between the values of the two indices. 3. Which of the following types of returns captures the changes in purchasing power? A. B. C. D.



Nominal returns. Real returns. Income yield. Capital gains yield.



4. If the price index for a particular year is 75, it implies that: A. B. C. D.



prices have increased by 7.5% over the base year. prices have increased by 0.75% over the base year. prices have decreased by 0.25% compared to the base year. prices have decreased by 25% compared to the base year.



5. Three firms X, Y, and Z operate in the same industry, although their products have different features and are priced differently. The following table provides the prices and the quantities sold (in units) during the period 2000-2002.



Compute the Paasche Index for 2002 if the base period is 2000 and the current period is 2002. A. 94.11. B. 106.26. C. 130. D. 106.07. 6. Consider the following information about the price and the price index of a popular book over three years.



What was the price index for this book in 2010? A. 72. B. 92.59. C. 107.2. D. 108. 7. Consider the following information about the price and the price index of a popular book over three years.



What was the approximate price of the book in 2011? A. $10.00. B. $10.80. C. $8.10. D. $10.69. 8. Consider the following information about the price and the price index of a popular book over three years.



If the price index in 2011 was 95 instead of 111.11, it would imply that: A. the price of the book in 2011 was 16.11% lower than its price in 2009. B. 2011 would be considered as the base year. C. the price of the book in 2011 was 5% lower than its price in 2009.



D. the price of the book in 2011 would be $4.



9. The following table provides the values of the simple price index for watches in a country.



If the base year is revised from 2006 to 2007, calculate the updated index for 2008. A. 113.5. B. 96.77. C. 95.24. D. 103.33. 10. If the price index for a particular year is 75, it implies that: A. B. C. D.



prices have increased by 7.5% over the base year. prices have increased by 0.75% over the base year. prices have decreased by 0.25% compared to the base year. prices have decreased by 25% compared to the base year.



11. Which of the following statements is true of the Consumer Price Index (CPI)? A. It uses the same basket of goods and services as the Producer Price Index. B. The quantities of items in the current year are used for computing the weights for the index. C. It is an unweighted price index used to measure inflation. D. It is based on the prices paid by urban consumers for a representative basket of goods and services. 12. A Paasche index with updated weights: A. is likely to produce a lower estimate than a Laspeyres index when prices are increasing. B. uses the current period quantities as weights as opposed to the base period quantities used in the Paasche index which does not use updated weights. C. is likely to produce a lower estimate than a Laspeyres index when prices are decreasing. D. accounts for inflation but fails to account for changing consumption patterns over time. 13. Which of the following statements is true about the comparison between the Laspeyres and Paasche indices? A. The Laspeyres index is more expensive to compute than the Paasche index. B. The data requirements are more stringent for the Laspeyres index than for the Paache index. C. Unlike the Laspeyres index, the Paasche index incorporates current expenditure patterns of consumers.



D. Unlike the Paasche index, the Laspeyres index requires that the weights be updated each year and the index numbers be recomputed for all of the previous years. 14. When Dana Roberts started her job as a librarian two years ago, her annual salary was $40,000. Although she is very good at her job and is now earning 10% more than what she started with, she notices that new hires in the same field are being offered $43,000 as an annual salary this year. Which of the following statements is most likely to be true? A. Dana is earning less than $43,000 this year. B. Real income for librarians in this country has increased, on an average, by $3,000 during the last two years. C. If inflation in the current year is very high, then it is possible that Dana was better off with $40,000 two years back than the new hires are with a salary of $43,000 today. D. Adjusted for inflation in the current year, it is likely that Dana's income this year is lower than the income of the new hires. 15. When a given time series is adjusted for changes in prices, it is called a(n): A. B. C. D.



deflated series. unweighted series. nominal series. cyclical series.



16. Katie Jones started her career with an annual salary of $30,000 in 2006. Five years later, in 2011, her salary had increased to $55,000 a year. If the values of the CPI (with a base of 1982-1984) for 2006 and 2011 are 201.6 and 224.9, respectively, compute the increase in Katie's real income. A. 64.34%. B. 83.33%. C. 105.31%. D. 164.34%. 17. Which of the following correctly identifies the expression for calculating the inflation rate for period t, based on the CPI? A. 𝑖𝑡 = (𝐶𝑃𝐼𝑡−1 − 𝐶𝑃𝐼𝑡 )⁄𝐶𝑃𝐼𝑡 . B. 𝑖𝑡 = (𝐶𝑃𝐼𝑡−1/𝐶𝑃𝐼𝑡) × 100. C. 𝑖𝑡 = (𝐶𝑃𝐼𝑡 − 𝐶𝑃𝐼𝑡−1)⁄𝐶𝑃𝐼𝑡−1. D. 𝑖𝑡 = (𝐶𝑃𝐼𝑡/𝐶𝑃𝐼𝑡−1) × 100. 18. Real income is computed by A. B. C. D.



Dividing money income by the CPI and multiplying by 100. Dividing the CPI by money income and multiplying by 100. Multiplying money income by the CPI. Subtracting the CPI from money income.



Essay Questions 1. There is a demand for a fast-response-economic index to review past economic activity in Jabara city. You are employed as an part-timer staff in Development Office. Your supervisor decides to use consumer purchasing habit to understand the economy and ask you to calculate some possible indices. The data are provided as follows: Item Rice (kg) Egg (kg) Onion (kg) Garlic (kg) Sugar (kg)



Feb-2013 Price (Rp) Quantity 6800 1300 14000 180 30000 250 30000 125 12000 225



Mar-2013 Price(Rp) Quantity 7200 1250 14000 180 55000 220 35000 120 11000 260



Questions: a. Compute a simple aggregate price index for March 2013. Use February- 2013 as the base period.



b. Compute the consumer-price- index for March 2013 using Laspeyres method. Interpret your result.



c. Compute the consumer-price- index for March 2013 using Paasche method. Interpret your result.



d. As you have recognized the advantages and the weakness of both Laspeyres and Paasche Method, what is your suggestion and provide the calculation to overcome those problems. Kelebihan metode Laspeyres adalah menggunakan besaran tahun dasar sebagai bobotnya, sehingga data lebih mudah didapat sehingga Laspeyres lebih umum



digunakan. Keuntungan dari metode Paasche adalah bahwa metode mempertimbangkan fakta bahwa konsumen dapat menggantikan antara barang dan jasa. Sedangkan kekurangan dari metode Laspeyres adalah bias ke atas, dengan menunjukkan tarif yang lebih tinggi jika harga naik, sedangkan kelemahan metode Paasche adalah bias ke bawah dan persyaratan memiliki kuantitas tahun berjalan sebagai data pembobot, sehingga biaya lebih tinggi untuk membuat analisis karena data mungkin tidak mungkin tidak tersedia pada saat itu. e. Calculate the level of inflation in March 2013 (using your proposed index)



f.



What is your real wage if your real wage if your salary now Rp2,500,000,(use February- 2013 as the base period ).



2. In Funland there are only three commodities consumed: popcorn, movie and diet drink. The following table shows the price (in thousand Rupiahs, P) and the amount consumed for these commodities, Q in 2008, 2018 and 2019. Commodity Popcorn Movie Diet drink



2008 P 1 5 0.70



2018 Q 500 300 300



P 1 10 0.80



2019 Q 600 200 400



P 1.05 10.50 0.75



Q 590 210 420



Questions. a. Compute the Paasche Price Index in 2008, 2018 and 2019 using 2008 as the base year.



b. If you would like to calculate the purchasing power from that income in 2019



compared to in 2008, which price index should you use? Explain why. Karena dalam konteks ini terdapat jeda yaitu periode yang cukup jauh, maka menurut kami menggunakan Indeks Laspeyres akan lebih efektif. Karena indeks laspeyres hanya menggunakan jumlah tahun dasar yang diberikan. Dimana lebih sederhana dibandingkan dengan perhitungan yang diperlukan untuk indeks paasche yang menggunakan kuantitas tahun berjalan, karena membutuhkan bobot untuk diperbarui setiap tahunnya.



c. If Annisa’s income was Rp500,000 per month in 2018, and did not change in 2019, using the Paasche Index above as Consumer Price Index, what was her real income in 2019?



d. Calculate the inflation rate in 2019 using price index in (1)



3. In monitoring national inflation rate, the government observes price movement of several basic foods especially at wholesale markets. Central Bureau of Statistic (CBS) has surveyed and collected data of several basic foods routinely for several years, as follow: Price and Quantity of Basic Foods at Pasar Kramat Jati (in Rp and 000 kg) Year 2014 2015 2016 2017



Price Quantity Price Quantity Price Quantity Price Quantity



Rice 6,000 116 6,400 118 6,850 210 7,650 215



Sugar Cane 11,300 24 11,450 22 12,000 21 12,100 25



Egg 17,800 6 18,500 8 19,000 10 22,250 12



Based on the data: a. CBS calculates Price Index in monitoring the movement of prices of those basic foods. Explain what does it means by Price Index. Indeks harga adalah nilai numerik yang mudah untuk ditafsirkan dengan mencerminkan persentase perubahan harga dari nilai dasar. Indeks harga sederhana adalah ratio harga pada periode t, p t, dan harga pada periode dasar, p 0, yang dinyatakan sebagai persentase. b. Calculate Price Index of each commodity with 2014 as base year. Give explanation of your the results. RICE 2015 =



6400 6000



× 100 = 106. 6



2016 =



6850 6000



× 100 = 114. 1



2017 =



7650 6000



× 100 = 127. 5



SUGAR CANE 2015 =



11450 11300



× 100 = 101. 3



2016 =



12000 11300



× 100 = 106. 1



2017 =



12100 11300



× 100 = 107. 07



2015 =



18500 17800



× 100 = 103. 9



2016 =



19000 17800



× 100 = 106. 7



2017 =



22250 17800



× 100 = 125



EGG



KESIMPULAN : Perhitungan diatas menunjukan bahwa setiap komoditi yaitu rice, sugarcane, dan juga egg mengalami kenaikan harga dari tahun 2014 sebesar masing-masing perhitungan dikurangi 100 persen. c. CBS also calculates weighted index using Laspeyres and Paasche methods. Explain what is (are) the difference(s) between the two and which method is better to be used? Explain why. Metode Laspeyres lebih umum digunakan daripada metode Paasche karena alasan tertentu, dimana fakta bahwa metode Paasche memerlukan pemutakhiran kuantitas tahun berjalan sebagai data bobot yang dapat meningkatkan biaya bagi perusahaan, dibandingkan dengan menggunakan Laspeyres yang tidak memerlukan penggunaan dari data kuantitas tahun berjalan, sebaliknya dengan menggunakan kuantitas tahun dasar sebagai data tetimbang. Selain itu Laspeyres juga tidak akan ketinggalan zaman meskipun bergantung pada berat tahun dasar karena tahun dasarnya berubah secara berkala. d. Calculate the Price Index using Laspeyres method year 2014 as the base year. 𝑐𝑝𝑖 2015 =



(6400×116)+(11450×24)+(18500×6) (6000×116)+(11300×24)+(17800×6)



× 100 = 105. 04



𝑐𝑝𝑖 2016 =



(6850×116)+(12000×24)+(19000×6) (6000×116)+(11300×24)+(17800×6)



× 100 = 111. 41



𝑐𝑝𝑖 2015 =



(7650×116)+(12100×24)+(22250×6) (6000×116)+(11300×24)+(17800×6)



× 100 = 122. 09



e. Calculate the inflation rate based on Consumer Price Index. 𝑖2015 =



105.04−100 100



𝑖2016 =



111.41−105.04 105.4



× 100% = 6. 06%



𝑖2017 =



122.09−111.41 111.41



× 100% = 9. 5%



× 100% = 5. 04%



4. a. The real return from investing $100 in a stock for a year is computed to be 2%. If the nominal return from this investment is 3.5%, what is the expected inflation rate?



b. Suppose the price of a slice of pizza increased from $2 in 2009 to $2.25 in 2010, and then to $3 in 2011. i.



5a.



Compute the percentage change in the price of a slice of pizza between 2009 and 2011.



ii.



Compute the simple price index for 2011 if 2009 is the base year.



iii.



Compute the simple price index for 2009 if 2010 is the base year.



Using 2008 as the base year, the simple price index for an algebra book in 2009 was computed to be 105. If the price of the book was $50 in 2009, compute the price in the base year. 2009 𝑖𝑛𝑑𝑒𝑥 2008 𝑖𝑛𝑑𝑒𝑥



= 105 → 5% 𝑔𝑟𝑜𝑤𝑡ℎ



2009−2008 𝑝𝑟𝑖𝑐𝑒 2008 𝑝𝑟𝑖𝑐𝑒



= 5%



50−(2008 𝑝𝑟𝑖𝑐𝑒) (2008 𝑝𝑟𝑖𝑐𝑒)



= 5%



[50 − (2008 𝑝𝑟𝑖𝑐𝑒)](20) = 2008 𝑝𝑟𝑖𝑐𝑒 1000 − 20(2008 𝑝𝑟𝑖𝑐𝑒) = 2008 𝑝𝑟𝑖𝑐𝑒 1000 = 21(2008 𝑝𝑟𝑖𝑐𝑒) 1000 21



= 2008 𝑝𝑟𝑖𝑐𝑒



2008 𝑝𝑟𝑖𝑐𝑒 = $47. 62



5b.



Suppose the simple price index for a good was 112 in 2008, using 2007 as the base year. In 2009 however, the simple price index for the same good was 98. i.



What does this information imply? Hal tersebut artinya pada harga sederhana tahun 2009 terjadi penurunan sebesar 2% dari indeks tahun dasar 2007, dan penurunan sebesar 12,5% dari tahun 2008. t berarti pada indeks harga sederhana tahun 2009 terjadi penurunan sebesar 2% dari tahun dasar 2007 indeks tahun, dan penurunan 12,5% dari tahun 2008.



ii.



If the price of the good was $20 in 2008, what was the price in 2009? 𝑃 𝑖𝑛 2009 = $20 − (12. 5% × 20) 𝑃 𝑖𝑛 2009 = $20 − 2. 5 𝑃 𝑖𝑛 2009 = $17. 5