If the price index is 100 this year, then:
a. there has been no inflation during the year
b. the price level is thrice as it was in the base year.
c. the price level is one hundred times what it was in the base year.
d. the price level is double what it was in the base year.
e. the inflation rate has been 100 percent since the base year.
a. there has been no inflation during the year
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According to the "law of demand"
A) demand generates a supply sufficient to satisfy the demand. B) nothing will be produced unless there is a demand for it. C) people will purchase less of a good when its price rises. D) wants are indefinitely expansible and can never be fully satisfied. E) whatever people want will eventually be supplied.
In surveys of professional economists, fourteen propositions were endorsed by an overwhelming majority of respondents
a. True b. False Indicate whether the statement is true or false
A merger between two firms with unrelated products is a
A. vertical merger. B. conglomerate merger. C. horizontal merger. D. monopoly merger.
Most policy makers agree that in the long run, changes in the money supply influence _____
Fill in the blank(s) with the appropriate word(s).