A market basket is made up of three goods, 10X, 12Y, and 18Z. The prices in the base year are $1.20, $2.10, and $3.25, respectively. The prices in the current year are $1.44, $2.23, and $3.88. What is the approximate consumer price index in the current year?
A) 103
B) 111
C) 116
D) 110
E) 96
C
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When the inflation rate is positive, the
A) real interest rate is greater than the nominal interest rate. B) real interest rate is less than the nominal interest rate. C) nominal interest rate is zero. D) real interest rate equals the nominal interest rate.
In regression analysis, the dependent variable
A) is always quantity demanded. B) is the variable whose variation is to be explained. C) is one of the factors that explains what is happening with demand. D) is represented by the inverse demand function.
Which of the following would be excluded from the gross domestic product (GDP)?
a. The mayor of a city hiring more workers to improve the sanitation of the city b. The sale of mobiles decreasing significantly c. The government reducing welfare benefits d. A homemaker spending $20 taking the family out to lunch instead of cooking food , e. A consumer having his pickup truck tuned up at the local garage
If we desire to classify land by its use, land that does not include any improvements to the land would be categorized as:
A. "Raw" land B. Building site C. Developed land D. Property infrastructure