Calculate the annual percentage change in price level for the year 2014. Round to two decimal places.
Answer: 1.87%
(109 - 107 / 107) x 100 = 1.87%
You might also like to view...
The marginal rate of technical substitution is measured by
A) the relative input prices. B) the slope of the isocost line. C) the slope of the isoquant. D) the ratio of the product's price to the product's cost of production.
Refer to above figure. Now, suppose that the relative price of A is actually not higher than Albania's autarkic level of 1, but quite the opposite (e.g., PA/PB = 0.5)
Would Albania still be able to gain from trade? If so, where would be its production point? Given the information in this question, where is Albania's comparative advantage?
Central banks get the purchasing power to buy government securities by:
a. Increasing their liabilities in the form of deposits from banks. b. Reducing currency in circulation. c. Making discount loans to banks. d. Taking loans from the government. e. All of the above.
Suppose the income elasticity of demand is -0.5 for good X. This implies that a 5% decrease in income will cause the quantity demanded of good X to
a. increase by 2.5%, and X is an inferior good. b. decrease by 2.5% and X is a normal good. c. increase by 10% and X is an inferior good. d. decrease by 10% and X is a normal good.