YearCPI2010952011100201210520131042014106According to the table shown, what can be said about the cost of living in 2010?
A. People experienced a decrease in the cost of living because the CPI is less than 100.
B. It was lower than in the base year.
C. People experienced an increase in the cost of living because the CPI isn't over 100.
D. There must have been a recession because the CPI is less than 100.
Answer: B
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A) the marginal cost of making pizzas would tend to increase. B) the quantity supplied of pizzas would tend to increase. C) both A and B are true. D) none of the above are true.
If the price elasticity of supply of a good is 2, a 200% increase in the price of the good, will change the quantity supplied by:
A) 50%. B) 100%. C) 200%. D) 400%.
According to interest rate parity, if the interest rate is 1 percent in the European Union and the euro is expected to appreciate 3 percent, the comparable interest rate in the United States will be
A) 4 percent. B) 3 percent. C) 2 percent. D) 1 percent.
Changing the price of a good will usually result in a negative externality
Indicate whether the statement is true or false