Suppose that the total expenditures for a typical household in 2015 equaled $2,500 per month, while the cost of purchasing exactly the same items in 2017 was $3,000. If 2015 is the base year, the CPI for 2017 equals:
A. 1.00
B. 0.83
C. 1.20
D. 1.25
Answer: C
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Trade in services such as information technology
A) is like other trade, it creates winners and losers, but the gains for national economies likely outweigh the costs. B) creates gains for India's economy, but national welfare losses for the countries that import these services. C) make it highly likely that information technology jobs will ultimately disappear in the industrialized countries. D) is not perceived as threatening by industrialized countries so is unlikely to lead to any protectionist sentiment or pressures in the way the manufacturing does.
The system we use to measure the value of an economy is called:
A. national income accounting. B. national economic valuation. C. macroeconomic summation. D. national expenditure accounting.
The development of a low-cost synthetic fuel is expected to cause a decrease in the price of oil
a. True b. False Indicate whether the statement is true or false
The rapid advance in computer technology is one of the reasons given for the shift of the
a. aggregate demand curve outward. b. aggregate supply curve inward. c. aggregate supply curve outward. d. total expenditures curve upward.