The following table lists the basket of goods in the Consumer Price Index for the nation of Astro (assume 2014 is the base year).?2014 Quantity2014 Price2015 Quantity2015 Price2016 Quantity2016 PriceSunglasses8$9.0010$11.007$10.00Toothpaste15 3.0018 4.0015 4.00Ferrets6 12.004 15.009 18.00
Using the information in Table 12.2, the percent increase in prices over the two year period from 2014 to 2016 is approximately:
A. 26 percent.
B. 31 percent.
C. 38 percent.
D. 98 percent.
Answer: B
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In the United States, the most recent use of wage and price controls occurred during the:
a. Nixon administration. b. Carter administration. c. Reagan administration. d. Clinton administration.
An economy that is operating below its full-employment capacity is experiencing a(n):
a. tax-induced recession. b. recessionary gap. c. fiscal drag. d. market correction. e. inflationary gap.
Which event would most likely increase aggregate demand?
A. A decrease in the price level that results in a foreign purchases effect. B. A depreciation of the dollar. C. An appreciation of the dollar. D. A decrease in the national incomes in foreign nations.
Refer to the information provided in Figure 12.2 below to answer the question(s) that follow. 
Figure 12.2 Refer to Figure 12.2. A technological advance causes the supply of personal computers to increase. The graph of this situation represents a
A. partial equilibrium analysis because it considers only this one industry. B. firm-specific analysis because only one firm would be affected by the technological advance. C. technological analysis because the change resulted from a technological advance. D. general equilibrium analysis because it identifies what happens to both equilibrium price and quantity of personal computers.