Assume that there was a 5 percent increase in the price of all goods in 2015; if the base year is 2014, then the price index in 2015 will be
A. 105.
B. 1100.
C. 95.
D. 110.
Answer: A
You might also like to view...
Which of the following would occur as a result if Europe experienced a lower inflation rate than the U.S.? a. European products would become more expensive to U.S. consumers
b. It would decrease the quantity of European goods demanded by Americans. c. It would decrease the demand for Euros. d. None of the above would occur.
Which of the following statements best describes the U.S. high school graduation rate?
a. As recently as 1970, only about half of U.S. adults had at least a high school diploma; by the start of the twenty-first century, more than 90% of adults had graduated from high school. b. As recently as 1980, only about half of U.S. adults had at least a high school diploma; by the start of the twenty-first century, more than 80% of adults had graduated from high school. c. As recently as 1970, only about half of U.S. adults had at least a high school diploma; by the start of the twenty-first century, more than 70% of adults had graduated from high school. d. As recently as 1970, only about half of U.S. adults had at least a high school diploma; by the start of the twenty-first century, more than 60% of adults had graduated from high school.
Economists who study economic mobility have found that the income of a grandfather and his grandson's income are
a. not closely related. b. negatively related. c. directly related. d. equal.
An ideal voting system will not function if a ________ is present, and has the power to enact his or her own preferences.
A. bully B. representative C. dictator D. consul