Refer to Table 9-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2015 and 2016?
A) 2% B) 5% C) 10% D) 12% E) 20%
E
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The Friedman-Savage utility function can explain why
A) people buy automobile insurance. B) somebody becomes addicted to gambling. C) people become more risk averse as their wealth increases. D) people place small bets to have a chance at winning a large amount.
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for an MP3 player is $10. If Nick receives 60% of the total profit, then
A) Nick will produce 50 MP3 players. B) Nick receives $500 as profit. C) total profit is $800. D) the efficiency in production is not achieved.
Investment, as a part of GDP, includes:
A. stocks. B. factories. C. gold. D. bonds.
Pat pays $10,000 for a newly issued two-year government bond with a $10,000 face value and a 6 percent coupon rate. One year later, after receiving the first coupon payment, Pat sells the bond. If the current one-year interest rate on government bonds is 5 percent, then the price Pat receives is:
A. $500. B. greater than $10,000. C. less than $10,000. D. $10,000.