Suppose the price index was 110 in 2004, 120 in 2005, and 125 in 2006 . Which of the following statements is correct?
a. The economy experienced inflation between 2004 and 2005 and between 2005 and 2006.
b. The inflation rate was positive between 2004 and 2005, and it was negative between 2005 and 2006.
c. The inflation rate was higher between 2005 and 2006 than it was between 2004 and 2005.
d. All of the above are correct.
a
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Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product00102002060030720408205090060980The average product of the 30th input item is
A. 200. B. 120. C. 24. D. 12.
Refer to the table above. If there is no statistical discrepancy, the capital and financial account balance equals
A) -$200 billion. B) +$200 billion. C) -$220 billion. D) +$220 billion. E) +$20 billion.
As more people started building houses in your community, more street lights were installed in your locality making it safer and easier to drive through. This is an example of a(n) ________
A) pecuniary externality B) network externality C) moral hazard D) adverse selection
Answer the following statements true (T) or false (F)
1. In the foreign exchange market, if Americans significantly increase their investments in securities in British financial markets, one effect is that the dollar will tend to depreciate against the pound. 2. If the organizers of a major sports event set the ticket price above the equilibrium level, then scalping will develop in a secondary market for tickets. 3. The presence of ticket scalpers in popular events like concerts will hurt consumers who buy from the scalpers. 4. In cases where sellers have a fixed number of units of a product to sell, the supply curve will be horizontal. 5. In cases where the supply curve is vertical, any change in demand will cause only a change in price but no change in quantity.