The Consumer Price Index was 247 in year 1 and 272 in year 2. The rate of inflation in year 2 was approximately:
A. 8 percent.
B. 6 percent.
C. 12 percent.
D. 10 percent.
Answer: D
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Suppose the mean earnings of two groups differ. Which of the following would be the logical conclusion?
a. The group with the lowest earnings must be less productive. b. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination. c. The group with the lowest earnings must be the victim of employment discrimination. d. The group with the highest earnings is more highly motivated and materialistic
The U.S. inflation adjusted poverty threshold in 2014 was set at $35,000 per year for a family of four.
Answer the following statement true (T) or false (F)
When the actual inflation rate turns out to be greater than the expected inflation rate, who gains—the borrower or the lender—and who loses? Explain why
What will be an ideal response?
When comparing the additional or incremental costs versus additional or incremental benefits of a decision, one is engaging in:
a. supply and demand analysis b. marginal analysis c. production possibilities analysis