Consumers in an economy buy only three general types of products, A, B, and C. Changes in the prices of these items over a period are shown below:
Using year 1 as the base year, the country's price index in year 2 is:
A.
100.0
B.
103.9
C.
105.2
D.
106.3
D.
106.3
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Which one of the following industries could be classified as an oligopoly?
A) Tobacco production B) Retailing C Farming D) Fast food restaurants
All of the following location characteristics can result in higher worker salaries except which one?
A) unpleasant work conditions B) poor climate C) low cost of living D) long commute time
Annual incomes of James, Jack, and Stanley are $30,000 . $50,000 . and $80,000 and their tax rates are 10%, 20%, and 30% respectively. Which tax structure is this an example of?
a. Proportional tax b. Progressive tax c. Regressive tax d. Digressive tax
Joe and Steve are duopolists who each can follow two strategies: cooperate and jointly act like a monopolist, or don't cooperate (cheat) and act like duopolists. Their profits are as follows:If both cooperate: both receive $1 millionIf one cooperates:cooperator receives $200,000, cheater receives $1.2 millionIf both cheat:both receive $500,000What will they do?
What will be an ideal response?