If the price index in year A is 130, this means that:
A. Prices in year A are on average 130 percent higher than in the base year
B. Prices in year A are on average13 times that in the base year
C. Prices in year A are on average 30 percent higher than in the base year
D. Nominal GDP is 130 percent higher than real GDP in year A
C. Prices in year A are on average 30 percent higher than in the base year
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Which of the following groups has the highest infant mortality rate?
a. middle-income economies b. low-income economies c. high-income economies d. Western European economies e. all the world's economies
You have the assignment of making a recommendation to the Chairman of the Fed during a period of persistent, high inflation. What could you do to restore stable prices? What would you recommend instead if the problem was persistent high unemployment?
The Chunnel auto tunnel allows motorists to travel between England and France. As an alternative, there is ferry service across the English Channel. What would happen in the market for ferry service if fees for using the Chunnel were increased?
A. The demand for ferry service would increase. B. There would be a downward movement along the demand curve for transits through the Chunnel. C. The demand for ferry service would decrease. D. There would be an upward movement along the demand curve for transits through the Chunnel.
Which one of the following is TRUE?
A. APS = 1 / MPS B. MPS + APS = 1 C. APC * APS = 1 D. APC = 1 - APS