If the price of motel rooms increases by 10 percent while the prices of other goods and services increase by 5 percent on average, the relative price of motel rooms has:
A. decreased by 10 percent.
B. increased.
C. remained constant.
D. decreased by 5 percent.
Answer: B
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Indicate whether the statement is true or false
Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would
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A. Social Security benefits for retirees. B. A church-run thrift store for the poor. C. Federal crop assistance for farmers. D. Government-subsidized loans for students.