In February 2010, the price of gasoline in the Florida was $2.629 per gallon and the CPI was 202.4 with a base period of 1982 to 1984. What was the real price of gasoline per gallon in base period dollars?
A) $2.629 per gallon
B) $1.00 per gallon
C) $1.29 per gallon
D) $5.32 per gallon
E) $1.809 per gallon
C
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Which of the following statements is false?
A. The Treasury bond information published under the column heading "Yield" is based on the ask price of the bond. B. The Treasury bond information published under the column heading "Yield" is based on the assumption that the bond is held to maturity. C. The Treasury bond information published under the column heading "Bid" indicates the price a buyer will pay if he buys the bond. D. The Treasury bond information published under the column heading "Bid" is the price a buyer will receive if she sells the bond.
When the money demand curve is drawn with interest rate on the vertical axis and the quantity of money on the horizontal axis, the slope of the demand curve for money is
A) vertical. B) horizontal. C) positive. D) negative.
How is nominal GDP converted into real GDP?
(A) By eliminating the effects of price increases on GDP growth. (B) By adding up all of the real purchases made in the economy. (C) By adding the contributions of American-owned factories in foreign countries. (D) By adding all incomes earned to total expenditures by consumers, businesses, and government.
The marginal cost to society of reducing pollution increases with the increased use of pollution abatement because
A) of the diminishing marginal utility of abatement. B) of the reduced demand for abatement. C) of the diminishing returns from abatement. D) of the high cost of abatement.