Inflation
A T-shirt costs $3 in 2021 & $5 in 2022. What was the inflation rate (percentage change in price) of the T-shirt from '21 to '22?
($5 - $3)/$3
Inflation Rate = 66.7%
What year did Gabbi begin teaching at the New School?
2021-2022
What was Hugo Chavez infamous for BEFORE becoming president?
He led a failed a military coup against Venezuela in 1992.
A McDonald's Big Mac costs $2.00 in 1970. Calculate the price of the Big Mac in 2004.
1970 CPI = 38.8
2004 CPI = 188.9
$2,000 x (188.9/38.8)
= 2004 price = $9.74
What industry drives the Venezuelan economy?
Oil production
A screwdriver costs $10 in 2017 & $5 in 2018. What is the inflation rate from '17 to '18?
($5-10)/$10
Inflation Rate = - 50%
What is Gabbi's birthday?
July 24, 1997
How did Venezuela's GDP change from 2014 until 2019?
GDP declined by approximately 75% from 2014 to 2019.
An iPhone 1 costs $900 in 2007. Calculate the price of the iPhone in 2012.
2007 CPI = 207.3
2012 CPI = 229.6
2012 Price = $996.8
What is the capital of Venezuela?
Caracas
What was the inflation rate of Venezuela in 2020?
2,355.15%
What are the names of Gabbi's parents?
Susan & Ed Chwae
What was the unemployment rate in Venezuela in 2020?
7.53%
A dartboard costs $45 in 1995. Calculate the price of the dartboard in 2008.
1995 CPI = 152.4
2008 CPI = 215.3
$45 x (215.3/152.4)
2008 Price = $63.6
What is the population of Venezuela? (can be an estimate)
34 million people (2024 est.)
What was the inflation rate of Venezuela in 2018?
63,374.08%
What are the names of Gabbi's cats?
Chomsky & Peach
What happened to GDP per capita during Chavez's presidency?
GDP per capita increased by more than double its size before Chavez took office.
A Mercedes Benz costs $2,000 in 1975. Calculate the price of the vehicle in 1993.
1975 CPI = 53.8
1993 CPI = 144.5
$2,000 x (144.5/53.8)
1993 Price = $5,371.7
What was Venezuela's unemployment rate as of 2023? (can be an estimate)
5.53%
When the government of a country must print money to pay its citizens, prices skyrocket & spiral out of control. What do we call this phenomenon?
Hyperinflation
What is Gabbi's rising sign? (In astrology, your rising sign colors the first impression that you make)
Scorpio
What was Venezuela's GDP per capita in 2010? (can be an estimate)
$11,158.18
In 1915, a barrel of oil in the U.S. costs $1,000. How much did the barrel of oil cost in 1988?
1915 CPI = 10.1
1988 CPI = 118.3
Price a in b = $1,000 X (118.3/10.1)
= 1988 price = $11,712.9
What was Venezuela's GDP per capita as of 2021? (can be an estimate)
$4,732.8