If the CPI in period 1 is 125 and the CPI in period 2 is 150, then the rate of inflation between period 1 and period 2 is
A. 20%.
B. 25%.
C. 30%.
D. 50%.
Answer: A
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Which of the following is not an institutional constraint that limits the United States' production possibilities?
A. Blue laws that restrict bars and liquor stores from opening on Sunday B. Restrictions on child labor C. The fact that Americans dislike working at night or on the weekends D. Workers who are "in between" jobs
Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100000 and the citizens of Toadhop gather for a townhall meeting to
find the socially optimal level of flood control, and they are successful, how much will each type A individual contribute in total? a. 1875 b. 1500 c. 875 d. 625
Which of the following makes short-term conditional low-interest loans to LDCs?
a. Agency for International Development (AID) b. World Bank c. Agency for International Finance (AIF) d. International Monetary Fund (IMF)
Often, candidates running for political office will speak in general terms instead of specific terms because voters agree more on __________ than __________
A) benefits; costs B) costs; benefits C) means; ends D) ends; means E) none of the above