Suppose that the basket of goods purchased by the typical consumer costs $188.80 this year and it cost $160 in the base year. The CPI this year would be
A) 28.8.
B) 85.11.
C) 118.0.
D) 348.8.
C
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If two interdependent economies work independently pursuing the best interests of their own economies
A) both countries can end up worse than they planned because of international externalities. B) they will make other economies more vulnerable to international externalities. C) they will have to sacrifice their monetary autonomy to achieve their goals. D) both countries can end up worse than they planned because of the liquidity effect.
Total fixed cost
A. increases as output increases. B. declines as output increases. C. is always zero. D. remains constant even if the firm shuts down.
In the eighteenth century, the rise of manufacturing in New England helped the region attract more settlers than the other regions of the English colonies
Indicate whether the statement is true or false
Assume it takes 10 units of labor to produce 4 units of output. When the price of labor is $6 per unit and fixed costs equal $60, what is the total cost of those 4 units of output?
A) $60 B) $70 C) $120 D) $84