Suppose that 1983 is the base year for the Consumer Price Index (CPI) and in 2014 the CPI was 220. What does this "220" mean?
A) What cost $100 in 1983 on average cost 2.20 times as much in 2014.
B) What cost $100 in 1983 on average cost $220 more in 2014.
C) What cost $100 in 1983 on average cost 0.22 times as much in 2014 (that is, it cost $22 in 2014).
D) What cost $100 in 1983 on average cost $22 more in 2014.
A
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Human capital refers to the percentage of the working-age population in the labor force
Indicate whether the statement is true or false
In a typical short-run production function, before diminishing returns set in, the slope of the total product curve
A. is increasing. B. is decreasing. C. rises and then falls before diminishing returns sets in. D. falls and then rises before diminishing returns sets in.
Suppose there is an economy that has 100 people each of whom makes a different good, and that they use a barter system for exchange. How many relative prices will there be?
What will be an ideal response?
Which of these contract terms reduce transfer pricing problems?
A. Double markups and two-part pricing B. Two-part pricing and quotas C. Quotas and double markups D. Exclusive territories and two-part pricing