Refer to Table 20-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2015 and 2016?
A) 2% B) 5% C) 10% D) 12% E) 20%
E
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The state Department of Agriculture raised the minimum price for a gallon of milk in the city on Tuesday to $4.37
"If you've got two or three kids and you're living on a fixed income and you're paying half your income on rent," Gioia said, "then you're really in a bind and you're making choices you should never have to make." If even after this price increase Gioia's marginal utility per dollar is higher for milk than for other goods, what should Gioia do? A) increase her consumption of milk B) decrease her consumption of milk C) not change her consumption of milk D) increase her consumption of milk only if her income increases
During World War II, a labor shortage emerged in some markets. New recruits into the civilian labor force included
(a) teenage females. (b) married women. (c) retired people 65 years of age or older. (d) all of the above.
The lower left-hand corner of a graph where the two axes meet is called the graph's origin
a. True b. False Indicate whether the statement is true or false
Given the basic rule of thumb for the relationship among inflation, productivity and nominal wage increases, if wages rise by 1 percent and productivity increases 2 percent, one would predict inflation to be:
A. 3 percent. B. 1.5 percent. C. 0 percent. D. ?1 percent.