In 2013, the reference base period for the CPI for the nation of Wobet, a typical consumer spent $30 on potatoes and $150 on steak. Which of the following is true?
A) The quantity of steak in the basket is larger than the quantity of potatoes.
B) The quantity of potatoes in the basket is larger than the quantity of steak.
C) The quantity of the two goods in the basket is the same.
D) We cannot say exactly how many of each good are in the basket.
E) None of the above answers is correct.
D
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Which of the following countries averaged GDP growth (after adjusting for inflation) of at least 5% per year both from 1990 to 2000 and from 2000 to 2008, and therefore, can be grouped into the fast-growth category?
a. Mozambique b. Central African Republic c. Guinea-Bissau d. Haiti
Explain why returns on assets compensate for systematic risk but not for idiosyncratic risk.
What will be an ideal response?
Which of the following are elements for markets that resemble perfect competition?
a. flat demand curves; easy exit; easy entry b. steep demand curves; difficult exit; easy entry c. flat supply curves; easy exit; difficult entry d. steep supply curves; difficult exit; difficult entry
Which of the following taxes has the greatest effect on the natural rate of unemployment?
a) income taxes b) retail sales taxes c) Social Security taxes d) real estate taxes e) inheritance taxes