Refer to the information provided in Table 22.6 below to answer the question(s) that follow.
Table 22.6
Refer to Table 22.6. If 2014 is the base year, the inflation rate between 2014 and 2015 is
A. 12.4%.
B. 17.6%.
C. 19.1%.
D. 23.2%.
Answer: D
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If a demand curve for a good is perfectly inelastic, then the seller could
A. increase price and not change the number of units purchased. B. ignore the effects of costs on its profits. C. rely on buyers to look for other products if it increases price. D. sell more units by advertising.
Consumption spending is __________ and investment spending is __________ in the Keynesian model
A) autonomous; autonomous B) autonomous; induced C) induced; autonomous D) induced; induced
Based on the quantity equation, if Y = 3,000 . P = 3, and V = 4, then M =
a. $4,000. b. $2,250. c. $250. d. $36,000.
During which period in history were the largest number of nations using the gold standard as their payments system?
A) from 1870 to 1913 B) from the end of WWI to 1929 C) from 1929 to 1939 D) from 1945 to 1975