Since World War II, the consumer price index has increased by an average of _____
a. 1.4 percent per year
b. 2.1 percent per year
c. 6.4 percent per year
d. 5.6 percent per year
e. 3.5 percent per year
e
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Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. One can conclude that
A) the demand for swimming pool maintenance services has increased. B) swimming pool maintenance services are becoming more technologically advanced. C) the law of supply has been violated. D) the supply of swimming pool maintenance services has decreased.
Opportunity cost is the value of the next best alternative to a given choice.
Answer the following statement true (T) or false (F)
Inflation-protected bonds guarantee investors:
A. a fixed nominal rate of return. B. an above average rate of inflation. C. above average real returns. D. no real wealth loss in the event of unexpectedly high inflation.
Which of the following is correct?
A. The actual reserves of a commercial bank equal its excess reserves plus its required reserves. B. A single commercial bank can legally lend an amount greater than its excess reserves. C. When borrowers take out bank loans, the money supply is decreased. D. When borrowers repay bank loans, the money supply is increased.