The consumer price index for a country in Year 1 was 129 and in Year 2, it was 133. The inflation rate of the country between the two years is approximately ________
A) 6 percent B) 2.2 percent C) 4 percent D) 3.1 percent
D
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Large countries tend to be more open than small countries
Indicate whether the statement is true or false
A firm hires labor in a perfectly competitive labor market. If the wage rate is $44, the firm should hire
a. 44 workers b. all units of labor whose marginal product is 44 c. all units of labor whose marginal revenue product is $44 d. all units of labor whose marginal revenue product is greater than or equal to $44 e. all units of labor whose marginal revenue product is less than or equal to $44
In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)?
a. Markets must be segmentable, identifying differences in ability-to-pay. b. Demand for services must be relatively price elastic. c. Profitable service expansion opportunities must be limited. d. Customers cannot know that different prices are being charged. e. The provider must have excess capacity to accommodate the extra business.
The short-term unemployment caused by the ordinary difficulties of matching employee to employer is called:
What will be an ideal response?