If the price level rises from 100 to 110 then the inflation rate is
A) 100 percent.
B) 1.0 percent.
C) 10.0 percent.
D) 110 percent.
E) None of the above answers is correct.
C
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Which of the following is an example of "pork barrel spending"?
A) Funds spent by the federal government in repairing national highways B) Funds spent by the Fed to bail out large financial institutions during recessions C) Government funds spent by a senator for building fountains in his home state D) Funds spent by the government in providing unemployment insurance
The costs associated with the negotiation and enforcement of an agreement are
A) property costs. B) resource factor costs. C) transaction costs. D) attorney fees.
A negative externality exists when ______.
a. a situation occurs where an informed party benefits in an exchange by taking advantage of knowing more than the other party b. the available information is initially distributed in favor of one party relative to another in an exchange c. costs spill over to an outside party who is not involved in producing or consuming the good d. benefits spill over to an outside party who is not involved in producing or consuming the good
Markets tend to overallocate resources to the production of a good when
A. there are public goods produced. B. equilibrium occurs. C. there are positive externalities. D. there are negative externalities.