Suppose that the CPI in Thailand was 345 in 2015 and 388 in 2016. The inflation rate between those two years was approximately:
A. 11.2 percent.
B. 14.3 percent.
C. 12.5 percent.
D. 43 percent.
Answer: C
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The Samuelson-Solow version of the Phillips curve showed the relationship between unemployment rates and
A) Real GDP growth rates. B) price inflation rates. C) wage inflation rates. D) imports.
Sketch a long run average total cost curve and a short run average total cost curve of a plant that is too small to produce at the minimum long run cost. Put the two curves on the same graph and include the marginal cost curves for both average cost functions.
What will be an ideal response?
When a monopolist sells two units of output its total revenue is $150. When it sells three units of output its total revenue, is $180. When the monopolist sells three units of output, the price per unit is
A. $50. B. $60. C. $75. D. $90.
Refer to the given data. The size of the negative GDP gap as a percent of potential GDP for the economy is:
Answer the question on the basis of the following information for a specific year in a
hypothetical economy for which Okun's law is applicable:
A. 6 percent.
B. 9 percent.
C. 12 percent.
D. 15 percent.