The following table lists the basket of goods in the Consumer Price Index for the nation of Astro (assume 2014 is the base year).?2014 Quantity2014 Price2015 Quantity2015 Price2016 Quantity2016 PriceSunglasses8$9.0010$11.007$10.00Toothpaste15 3.0018 4.0015 4.00Ferrets6 12.004 15.009 18.00
Using the information in Table 12.2, the inflation rate from 2014 to 2015 is about:
A. 26 percent.
B. 38 percent.
C. 42 percent.
D. 49 percent.
Answer: A
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In the industrial period of U.S. history, the manufacturing goods consumed by U.S. households were subject to
(a) high taxes. (b) Engel's Law. (c) income effects. (d) none of the above.
The price elasticity of demand for a printer is estimated to be 1 . This means that an increase in price by 10% will
a. Increase quantity demanded by 10% b. Decrease quantity demanded by 10% c. Increase demand by 10% d. Decrease demand by 10%
Which of the following is not a recommended component of the internal analysis?
the characteristics and utilization of major programs and service key indicators (faculty and staff) political environments financial performance and position
An indifference curve shows all:
A. possible equilibrium positions on an indifference map. B. equilibrium combinations of two products that are obtainable with a given money income. C. combinations of two products yielding the same total utility to a consumer. D. possible combinations of two products that a consumer can purchase, given her income and the prices of the products.