If the CPI was 132.5 at the end of last year and 140.2 at the end of this year, the inflation rate over these two years was
A) 7.7 percent.
B) 5.4 percent.
C) 4.4 percent.
D) 5.8 percent.
D
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The smaller the currency drain, the
A) smaller the increase in the quantity of money from an increase in reserves. B) more likely it is that the banking system will hold a larger proportion of excess reserves. C) the smaller the effect of a change in the discount rate. D) larger the increase in the quantity of money from an increase in reserves.
If a perfectly competitive firm is producing the short-run profit-maximizing quantity and is earning positive economic profits, the firm should anticipate ________.
A) the market equilibrium price to increase B) the market equilibrium price to decrease C) earning economic profits indefinitely D) the market supply to decrease
The fee schedule capable of contributing the most net revenue to a museum's budget depends on
A) the cost of constructing the museum. B) the cost of heating and lighting the museum. C) the cost of purchasing and maintaining the museum exhibits. D) the demand to view the museum's collection. E) whether the museum is publicly or privately owned.
Figure 10-5
indicates that the output of the economy is
a.
greater than the economy's long-run capacity.
b.
equal to the economy's long-run capacity.
c.
less than the economy's long-run capacity.
d.
consistent with long-run equilibrium.