Refer to Table 9-7. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2015 and 2016?
A) 2.9% B) 3.5% C) 4.6% D) 5% E) 7.5%
A
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One reason that the aggregate demand curve has a negative slope is because
A) firms supply more when prices rise. B) people buy more foreign goods when the domestic price level rises. C) the amount of money in the economy increases when the price level rises. D) firms supply less when prices rise.
When someone's willingness to pay is the same as the actual price paid for an item:
A. the individual's surplus is zero. B. the individual will not purchase the item. C. surplus cannot be maximized. D. All of these are true.
If an economy's population grows at 3 percent and real GDP grows at 2 percent, then:
A. per capita real GDP is declining. B. the economy's standard of living is increasing. C. per capita real GDP is negative. D. per capita real GDP is growing.
A currency depreciation in the foreign exchange market will:
A. Encourage imports into the country whose currency has depreciated B. Discourage imports into the country whose currency has depreciated C. Discourage exports from the country whose currency has depreciated D. Encourage foreign travel by the citizens of the country whose currency has depreciated