If the Consumer Price Index rises from 300 to 333 in a particular year, the rate of inflation in that year is:
A. 11 percent.
B. 33 percent.
C. 91 percent.
D. 10 percent.
A. 11 percent.
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Which of the following countries' economic development began with government encouragement of cartel formation?
a. United States b. Israel c. Brazil d. Germany e. Canada
The total revenue curve for a firm is given by TR = 2Q.
A. The firm may be a monopolist or a perfectly competitive firm. B. The firm is definitely not a monopolist. C. The firm is definitely a monopolist. D. One cannot tell from the equation what market form applies.
Suppose you are using 10 units of labor in your short-run production process. At this point, the average product of your labor is 10, and the marginal product of the last unit of labor was 14. Given this, we know that the
A. marginal product of labor must be decreasing. B. average product of labor must be decreasing. C. marginal product of labor must be increasing. D. average product of labor must be increasing.
For a small country with a closed economy, if the marginal propensity to save is equal to 0.2, then the spending multiplier indicates that a $10 exogenous increase in government spending will lead to a $20 increase in gross domestic product (GDP).
Answer the following statement true (T) or false (F)