If the CPI is currently 296.3 and the base year is 1967, how much was the CPI in 1967?
A. 96.3
B. 100
C. 196.3
D. 200
B. 100
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Monopoly firms manage to earn positive profits, even in the long run because
a. they have no close substitutes b. there are high barriers of entry to the market c. they have a cost advantage difficult to duplicate d. all of the above
Trade restrictions like tariffs and quotas will
What will be an ideal response?
Which one of the following statements is the most accurate?
A. Appreciation is a fall in E when the exchange rate is fixed while revaluation is a fall in E when the exchange rate is flexible. B. Appreciation is a fall in E when the exchange rate floats while revaluation is a fall in E when the exchange rate is fixed. C. Appreciation is a rise in E when the exchange rate floats while revaluation is a fall in E when the exchange rate is fixed. D. Appreciation is a fall in E when the exchange rate floats while revaluation is a rise in E when the exchange rate is fixed.
Which of the following would be used in a representative household analysis?
a. the incomes of a randomly selected group of households b. the income of a case-study household c. the average of all households’ disposable incomes d. the average of all investment earnings