As of July 2012, the 12 month CPI inflation rate was 1.4 percent and the 12 month core CPI inflation rate was 2.1 percent. The difference between these two measurements of inflation indicates
A) prices for food and fuel grew less rapidly than prices for other goods.
B) prices for food and fuel grew more rapidly than prices for other goods.
C) the underlying inflation rate was lower than the overall inflation rate.
D) hyperinflation.
A
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Which of the following is true?
A) At full employment, aggregate supply is equal to potential GDP. B) Aggregate supply is another name for potential GDP. C) Potential GDP decreases as the price level increases. D) The potential GDP line has a negative slope. E) Potential GDP increases as the price level increases.
If a dinner guest was serious when she said that she could never get enough of your cooking, you would conclude that the marginal utility of your cooking for her was _____
a. negative b. zero c. increasing at an increasing rate d. positive e. more than total utility
Right or wrong, using the expenditure approach to GDP will show a net increase in GDP because of the 2005 Hurricanes
a. True b. False
Refer to the accompanying figure.
Based on the figure, the income-expenditure multiplier equals:
A. 0.5. B. 2. C. 200. D. 5.