Refer to Table 9-11. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 40.08 B) 100 C) 180 D) 208
D
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If the market was a monopoly, the quantity would be ________ and the price would be ________; if the market tis perfectly competitive, the quantity would be ________ and the price would be ________
A) Q1; P1; Q2; P2 B) Q2; P1; Q1; P2 C) Q1; P1; Q2; P1 D) Q1; P2; Q2; P1 E) Q1; P2; Q1; P1
Who among the following is NOT frictionally unemployed?
A) Andrew, a teenager who has just entered the labor market looking for his first part-time job B) Barbara, who is re-entering the labor market after a divorce C) Charles, who was laid off from his factory job but expects to be recalled in a few weeks D) Diana, who has quit her job and is now looking for another
Between the end of World War II and 1971, the United States dollar was
A. the only major currency in the world convertible into gold for purposes of international payments. B. not used as an international currency. C. the only major currency in the world not backed by gold. D. not very important in the transfer of goods between countries.
Refer to the below graph of the supply and demand for agricultural products. If point 1 reflects the supply and demand for agricultural products in the U.S. in the 1950s, then which point would best characterize long-run change in the equilibrium for agricultural products since that time?
A. 2
B. 4
C. 7
D. 8