The CPI was 172 in 2007, and the CPI was 46.5 in 1982 . If your parents put aside $1,000 for you in 1982, then how much would you have needed in 2007 in order to buy what you could have bought with the $1,000 in 1982?
a. $270.35
b. $1,255.00
c. $2,698.92
d. $3,698.92
d
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A firm can produce 450 gallons of milk per day with 4 workers and 500 gallons per day with 5 workers. The marginal product of the fifth worker expressed in gallons per worker per day, is:
a. 35. b. 50. c. 70. d. 350.
If the aggregate demand curve shifts to the left in the short run then the long-run equilibrium will be at a:
A. higher price level and higher level of output. B. higher price level and lower level of output. C. lower price level and same level of output. D. lower price level and lower level of output.
A perfectly competitive firm's marginal revenue is:
A. sometimes below and sometimes above the selling price. B. less than the selling price. C. greater than the selling price. D. equal to the selling price.
Which of the following actions by the Fed would cause the money supply to increase?
A. Purchases of government bonds from banks. B. An increase in the reserve requirement. C. An increase in the discount rate. D. Sales of government bonds to the public.