If the consumer price index (CPI) this year is 162 and last year it was 170, the inflation rate
a. is positive
b. is negative.
c. has decreased since last year.
d. has increased since last year.
e. is the same as last year.
b
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In recent years, Taiwan has experienced increases in savings and investment. As a result of the higher investment and saving, we expect i. increases in physical capital. ii. increases in the inflation rate. iii. advances in technology
A) i and iii B) i and ii C) ii only D) ii and iii E) i, ii and iii
If the price of hamburger meat increases by 20 percent and the quantity supplied by meat packing companies increases by 30 percent, what is the price elasticity of supply?
A) 1.65 B) 1.20 C) 0.67 D) 1.50
Two countries with differing comparative advantages may engage in trade because
A. They will be able to consume more goods in total due to specialization and trade. B. They are required to because they are part of the World Trade Organization. C. They will achieve an absolute advantage with one another. D. They will be able to produce and consume goods on their production possibilities curves.
Many economists believe that the rise in European unemployment from 1960 to 2011 was caused by:
A. generous unemployment benefits. B. the decreased influence of union insiders. C. an increase in the number of younger workers, who have higher rates of unemployment. D. economic inequality.