Use the following table to answer the next question.YearNominal Income (dollars)CPIReal Income (dollars)1$44,600130 2$48,200 $35,1833$51,000139 What is the value of the CPI in Year 2?
A. 137
B. 1.37
C. 73
D. 0.73
Answer: A
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When housing prices fall, as they did beginning in 2006 following the housing market bubble, consumption spending on furniture, appliances, and home improvements ________ as many households found it ________ to borrow against the value of their homes
. A) increased; easier B) declined; harder C) increased; harder D) declined; easier
Refer to Table 2.4. The GDP deflator for 2012 is
A) 60.9. B) 94.3. C) 106.1. D) 157.4.
In the equation S = Y - C, in order to interpret Y as disposable income, it is necessary to interpret S as ________ saving
A) private B) national C) government D) business
If the current account is in deficit, imports of goods and services exceed exports of goods and services (plus net unilateral transfers)
a. True b. False