If the CPI was 95 at the end of 2007 and 105 at the end of 2008, what was the inflation rate in 2008?
A) 105 percent
B) 10.5 percent
C) 9.5 percent
D) 5 percent
E) 10 percent
B) 10.5 percent
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In February 2002, the euro/dollar exchange rate was 1.20, and in May 2002, the euro/dollar exchange rate was 1.10. What happened to the exchange rate during this period?
A) Euro appreciated against the dollar. B) Euro depreciated against the dollar. C) Dollar appreciated against the euro. D) Both B and C.
Poorly defined property rights imply that _____
a. people can play their music as loud as they would like b. profit opportunities exist for entrepreneurs c. a Pareto optimum is still easily achieved d. people may be able to use resources without paying for them
How is inflation related to interest rates?
What will be an ideal response?
Market failure results in
A. inflation. B. Pareto optimality. C. waste. D. budget deficits.