In 2018, the CPI was 80. In 2019, the CPI was 90. What was the inflation rate between 2018 and 2019?
What will be an ideal response?
12.5
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From the economic point of view, profit is
A) a four-letter word. B) the same as loss. C) the result of uncertainty. D) a sign of economic injustice. E) none of the above.
As shown in the graph, when a government imposes a quota, consumer surplus will:
This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price
for that good.
A. decrease by EFGH.
B. increase by EFGH.
C. decrease by FG only.
D. increase to ABCD.
Real GDP differs from nominal GDP in that nominal GDP measures
a. output adjusted for inflation. b. real output of goods and services. c. output of goods and services at current prices. d. real income adjusted for changes in the price level.
Rent-seeking activities have been a major problem in the high-growth Asian economies and contributed greatly to the Asian financial crisis
Indicate whether the statement is true or false