The CPI in 1974 equaled 0.49. The CPI in 1975 equaled 0.54. The rate of inflation between 1974 and 1975 was ________ percent.
A. 5.0
B. 5.4
C. 10.2
D. 9.3
Answer: C
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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from
A) point c to point a. B) point d to point a. C) point d to point b. D) point b to point c.
The more firms are present in a market, the:
A. more competition is likely to be present. B. less competition is likely to be present. C. more like a monopoly it will behave. D. more collusion is likely to occur.
When shopping online, as part of the check-out process, companies often have a box checked automatically that states you want to receive promotional e-mails from them. The directions instruct you to uncheck the box if you do not wish such correspondence. This practice is a good example of:
A. status-quo bias. B. endowment bias. C. endowment effect. D. time inconsistency.
Game theory would classify a cartel under the topic of
A. cooperative games. B. dominant-strategy games. C. noncooperative games. D. zero-sum games.