Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The inflation rate for 2016 was equal to
A) 215 percent. B) 21.5 percent. C) 8.0 percent. D) 3.9 percent.
D
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The supply of loanable funds curve shifts leftward if the real interest rate rises
Indicate whether the statement is true or false
A farmer discovers that the total cost of growing 50 acres of eggplant is $50,000 and that the total cost of growing 51 acres of eggplant is $52,000. The marginal cost of the 51st acre of eggplant is
A) $52,000. B) $50,000. C) $2,000. D) $1,000.
Private property rights are important because:
a. they create incentives for people to improve their standard of living. b. the Constitution says so. c. they allow students to choose their major field of study in college. d. an economy cannot function without them. e. goods cannot be produced without them.
If the money multiplier is approximated to be 2, then the reserve ratio must be:
A. 50 percent. B. 5 percent. C. 2 percent. D. 20 percent.