Which of the following statements is true?
A. Deflation is an increase in the general level of prices.
B. The consumer price index (CPI) measures changes in the average prices of consumer goods and services.
C. The real interest rate equals the nominal rate of interest plus the inflation rate.
D. Real income is the actual number of dollars received over a period of time.
Answer: B
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_____________ is the distance between speakers
a. Artifacts b. Cybernetics c. Proxemics d. Calibrations
Which of the following is NOT a potential objective of tying strategies used by firms?
A) Reduce production costs and avoid problems associated with diseconomies of scale B) Protect brand image and ensure product quality C) Meter consumption across different buyers in order to collect a two-part tariff D) Extend a firm's market power from one product market into another market
Ken and Traci are two woodworkers who both make tables and chairs. In one month, Ken can make 3 tables or 18 chairs, whereas Traci can make 8 tables or 24 chairs.. Given this, we know that
a. Ken has an absolute advantage in chairs. b. Ken has a comparative advantage in tables. c. Traci has an absolute advantage in chairs. d. Traci has a comparative advantage in chairs.
The following table lists the basket of goods in the Consumer Price Index for the nation of Astro (assume 2014 is the base year).?2014 Quantity2014 Price2015 Quantity2015 Price2016 Quantity2016 PriceSunglasses8$9.0010$11.007$10.00Toothpaste15 3.0018 4.0015 4.00Ferrets6 12.004 15.009 18.00
Using the information in Table 12.2, the Astro Consumer Price Index for 2014 is:
A. 24. B. 100. C. 124. D. 189.