In the United States between 1973 and 2013, the inflation rate
A) increased every year.
B) only decreased during the late 1990s.
C) only increased during the late 1970s and 1980.
D) peaked during the late 1970s and 1980 and was at its generally lowest in the 1990s and 2000s.
E) has been relatively constant at approximately 4 percent to 6 percent per year.
D
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Suppose the price of a scooter is $200 and Cora Lee is willing to pay $250. Cora Lee's
A) consumer surplus from that scooter is $200. B) consumer surplus from that scooter is $50. C) marginal benefit from that scooter is $100. D) consumer surplus from that scooter is $150. E) consumer surplus from that scooter is $250.
What is the Fisher Effect? Provide an example
What will be an ideal response?
The Arrow-Pratt measure of risk aversion is
A) negative if a person is risk averse. B) greater than one if a person is risk averse. C) negative if a person is risk loving. D) None of the above.
The term or phrase most likely to indicate a normative statement is
A. "factual." or "what is" statement. B. "holding other things constant." C. "should" or "ought to." D. "ceteris paribus."