If the CPI this year is 220 and was 200 in last year, the annual inflation rate between the two years is
A) 5 percent.
B) 10 percent.
C) 20 percent.
D) 2 percent.
B
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Which of the following might make it inefficient for a farmer to continue growing crops on a particular piece of farmland?
A) A fall in crop prices B) A rise in the price developers are willing to pay for the land C) Erosion of the top soil D) Rezoning of the land by the county government E) Any of the above could do it.
Explain whether the statement, "Hillary Clinton was elected President of the United States in 2012," is a normative or positive statement
What will be an ideal response?
Economists assume the central goal of any business is to:
A. maximize revenues. B. minimize costs. C. maximize profit. D. maximize market share.
Exhibit 7-1 Quantity and total revenue data for a firm Quantity Total Revenue 0 $ 0 1 62 2 124 3 186 Exhibit 7-1 indicates that this firm is operating in which type of market structure?
A. The market structure cannot be determined from the information given. B. monopoly C. perfect competition D. monopolistic competition