If the price level was 100 in 2014 and 102 in 2015, the inflation rate was
A) 102%.
B) 20%.
C) 2%.
D) 0.2%.
C
You might also like to view...
Ann Marie is a Tea-Party Republican, but she decides to vote in the Democratic primary in order to vote against the most liberal candidate. This is an example of strategic voting
Indicate whether the statement is true or false
The idea that every Pareto efficient allocation is the competitive equilibrium for some initial allocation of resources is known as:
A. the first welfare theorem. B. the second welfare theorem. C. the third welfare theorem. D. the exchange efficiency condition.
One way to increase economic efficiency in saving lives is to
a. shift resources toward methods with low cost per life saved b. shift resources toward methods with high cost per life saved c. allocate more resources to saving lives d. allocate fewer resources to saving lives e. move along the production possibilities frontier and increase the number of lives saved
Assume you have $1,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level is equal to 92 at the end of the year, the real value of your savings is closest to
A. $1,092. B. $920. C. $1,087. D. $908.