Suppose that the consumer price index at year-end 2010 was 180 and by year-end 2011 had risen to 189 . What was the inflation rate during 2011?
a. 4.8 percent
b. 5 percent
c. 6 percent
d. 9 percent
B
You might also like to view...
Explain how positive externalities cause a wedge between private marginal costs and social marginal costs. Give an example of a positive externality and explain why it is, in fact, a positive externality. Draw a supply/demand diagram and add a social marginal cost curve that represents the presence of the positive externality. Explain the relationship between the equilibrium quantity and that which is socially efficient.
What will be an ideal response?
An organization producing a wide range of products is more likely to decentralize its decision making process than a firm operating in a single industry
Indicate whether the statement is true or false
A rational consumer would never purchase a good if its
a. marginal utility is falling b. MU/P is positive c. MU/P is falling d. marginal utility is negative e. contribution to total utility is less than one
A change in one input price will cause the slope of the budget line to change
a. True b. False Indicate whether the statement is true or false