Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5. If 2015 is the base year, the inflation rate between 2014 and 2015 is ________%, and the inflation rate between 2015 and 2016 is ________%.
A. 9.4; 11.2
B. 6.2; 16.1
C. 4.0; 4.9
D. 5.8; 5.8
Answer: B
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When the price of apples goes up
A) the quantity of apples demanded will decrease, ceteris paribus. B) the demand for apples will increase, ceteris paribus. C) the quantity of apples demanded will increase, ceteris paribus. D) the demand for apples will decrease, ceteris paribus.
The labor force participation rate is the percentage of the adult population that is
A) employed. B) willing to work but unable to find jobs. C) unemployed. D) working or actively looking for work.
There is only one efficient allocation of resources in an economy at one point in time.
Answer the following statement true (T) or false (F)
Industrial policy is an effort by a government to:
A. regulate prices in particular industries. B. identify the most profitable industries in the world, and adopt them in their country. C. favor some industries over others. D. control markets that are industrial.