In the above table, the inflation rate between 2012 and 2013 is approximately
A) 0.9 percent.
B) 1 percent.
C) 10 percent.
D) 100 percent.
C
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Fill in the blank: According to your text, ________ may be the most powerful force behind economic growth
A) minimum wages B) unionization C) technical innovation D) a well-motivated bureaucracy E) price compression
A consumer is in equilibrium when the slope of his or her indifference curve is equal to his or her budget constraint
a. True b. False Indicate whether the statement is true or false
According to the law of demand, a demand curve
A. Has a negative slope. B. Has a positive slope. C. Exceeds the economy's ability to produce. D. Is a horizontal or flat line.
Related to the Economics in Practice on page 79: If a hurricane results in the supply of hotel rooms decreasing and the demand for hotel rooms increases, the equilibrium price for hotel rooms ________ and the equilibrium quantity of hotel rooms ________.
A. may increase, decrease, or stay the same; will decrease B. will increase; will decrease C. may increase, decrease, or stay the same; may increase, decrease, or stay the same D. will increase; may increase, decrease, or stay the same