QN=75 (17802) Suppose a basket of goods and services has been selected to calculate the CPI and 2002 has been selected as the base year. In 2002, the basket's cost was $50; in 2004, the basket's cost was $52; and in 2006, the basket's cost was $54.60. The value of the CPI in 2004 was
a. 96.2.
b. 102.0.
c. 104.0.
d. 152.0.
c. 104.0.
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How does the U.S. federal government assist workers who have lost their jobs due to international trade?
What will be an ideal response?
Tony Lai deposits $200 in currency in his checking account at a bank. This deposit is treated as:
A. a subtraction of $200 from the money supply because the $200 in currency is no longer in circulation. B. no change in the money supply because the $200 in currency has been converted to a $200 increase in checkable deposits. C. an addition of $200 to the money supply because the bank holds $200 in currency and the checking account has been increased by $200. D. an addition of $200 to the money supply because of the creation of a checkable deposit of $200.
Which would most likely increase aggregate supply?
A. An increase in the prices of imported products B. An increase in productivity C. A decrease in business subsidies D. A decrease in personal income taxes
A legitimate concern about illegal immigration is that it:
A. Tends to lead to higher product prices B. Has a negative fiscal impact on local and state governments C. Causes a one-for-one reduction in employment for legal residents D. Causes the average wage level in the U.S. to fall