If the CPI is 100 in the base year and 108 in the current year, how much did prices rise between the base year and the current year?
A) 8 percent
B) 108 percent
C) 1.08 percent
D) 0.08 percent
E) ?80 percent
A
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Refer to Figure 28-9. A(n) ________ would be depicted as a movement from A to D to C
A) supply shock, such as rising oil prices, B) implementation of contractionary monetary policy C) increase in short-run aggregate supply D) increase in aggregate demand
Economists who think the capture theory explains regulatory behavior will support their claims by noting that
A) regulation as carried out in this country generates larger profits for the firms and does not generate lower prices for consumers. B) consumers actually dominate regulatory hearings through the influence of consumer advocacy groups. C) Congress ensured that consumers have more influence on the decisions of regulators by setting up the agencies in ways that insulated the regulators from the regulated firms. D) the firms that are regulated have greater incentive to try to influence regulators than do consumers.
What would likely have the most severe immediate effect on an economy?
A. A significant drop in exports B. The Fed's infusing reserves into the economy C. A failure of the financial sector D. An aggregate demand shock
If you knew that two countries had the same level of real GDP per person, what additional piece of information would help you determine in which country people had a better standard of living?
A. The average number of hours worked per week in each country B. The average level of prices in each country C. The population of each country D. The total physical volume of output for each country