If the CPI rises from 206.7 to 212.7 between two consecutive years, by how much has the cost of living changed between these two years?
A) The cost of living has increased by 6%.
B) The cost of living has increased by 2.9%.
C) The cost of living has increased by 12.7%.
D) The cost of living has decreased by 6%.
Answer: B
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Of the following high-income countries, which has the lowest infant mortality rate?
A) Canada B) Japan C) the United Kingdom D) the United States
When demand for a product increases but the supply of the product remains unchanged, the equilibrium price of the product will
a. rise and equilibrium quantity will decrease. b. fall. c. first fall and then return to the original level. d. rise, and equilibrium quantity will increase.
In an optimal two-part tariff pricing schedule, consumer surplus is zero
Indicate whether the statement is true or false
Risk aversion implies that
A) individuals will not take on risk. B) investors must be compensated for about half of the risk they take on. C) investors must be compensated for the risk they take on. D) None of the above.