Consumer spending in what category is the largest component of the CPI?
Housing
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If the aggregate price level at time t is denoted by Pt, the inflation rate from time t - 1 to t is defined as
A) ?t = (Pt - Pt - 1)/Pt - 1. B) ?t = (Pt + 1 - Pt - 1)/Pt - 1. C) ?t = (Pt + 1 - Pt )/Pt. D) ?t = (Pt - Pt - 1)/Pt.
Four banks are offering the same interest rate of 4%. Where do you invest?
A) Bank A compounds interest on a yearly basis. B) Bank B compounds interest on a monthly basis. C) Bank C compounds interest on a daily basis. D) I am indifferent between banks.
The graph shown demonstrates a tax on sellers. Before the tax was imposed, the buyers purchased ____ units and paid _____ for each one.
A. 15; $16
B. 15; $6
C. 31; $9
D. 31; $19
Firms in a monopolistically competitive industry are free to enter or leave the industry at will
a. True b. False Indicate whether the statement is true or false