The price index for any designated base year must always equal
A. 100.
B. 0.
C. one divided by the nominal price change for the year.
D. the CPI for that year.
Answer: A
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The believer in policy ________ must be pessimistic about the ability of the private economy to self-stabilize and ________ about the accuracy of economic forecasting
A) activism, pessimistic B) activism, optimistic C) rules, pessimistic D) rules, optimistic
An increase in the actual price level does not shift the short-run aggregate supply curve, but an expected increase in the price level shifts the short-run aggregate supply curve to the left
a. True b. False Indicate whether the statement is true or false
A ______ is a tax on imports.
Fill in the blank(s) with the appropriate word(s).
If the slope of the indifference curve for goods X and Y is -2, then the marginal rate of substitution is
A. 0. B. 1/2. C. 2. D. infinite.