For the CPI. the value of the index in the base year
A. depends upon what prices did the year before.
B. always equals 100.
C. depends upon price and quantity that are constantly changing.
D. is always greater than 100.
Answer: B
You might also like to view...
In the winter of 2001–2002, Argentina’s overvalued currency reflected a(n)
A. balance of payments surplus. B. balance of payments deficit. C. surplus of exports over imports. D. excess demand for Thai currency.
What are the three types of monetary policy lags?
A) the recognition lag, the identification lag, and the implementation lag B) the recognition lag, the inflation lag, and the impact lag C) the recognition lag, the implementation lag, and the government lag D) the recognition lag, the implementation lag, and the impact lag
Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. The opportunity cost of a glove in Panama is:
A. 1/8 of a hat. B. 3/4 of a hat. C. 4/3 hats. D. 8 hats.
Suppose that only two goods are produced in an economy. If a country possesses the comparative advantage in the production of one good then it:
A. cannot also possess the comparative advantage in the production of the other good. B. must also possess the absolute advantage in the production of that good. C. cannot also possess the absolute advantage in the production of that good. D. must also possess the comparative advantage in the production of the other good.