formula for consumer price index
What will be an ideal response?
the price for the most recent market basket in the particular year DIVIDED by the price estimate of the market basket in the base year MULTIPLIED by 100
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What is the main difference between classical economists' ideas about economic growth versus what modern evidence suggests?
What will be an ideal response?
The production function shows
A) the incremental output gained by improving the production process. B) the maximum output that can be produced from each possible quantity of inputs. C) the technology used to produce output. D) the total cost of producing a given quantity of output.
Banks serve the role of a financial intermediary; however, banks cannot survive in the long term if they are paying out more in ___________ to depositors than they are receiving from borrowers.
a. interest b. revenue c. taxes d. income
Which continent best illustrates LDCs?
a. Australia b. South America c. North America d. Antarctica e. Europe