If the price level rises from 125 to 150 from one year to the next, then the rate of inflation that year is 25 percent.
Answer the following statement true (T) or false (F)
False
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Since World War II, the share of total income going to the bottom 20 percent of U.S. households has
A) fallen by 20 percent. B) increased by 10 percent. C) remained constant. D) more than doubled.
A COLA automatically raises the wage when the CPI rises
a. True b. False Indicate whether the statement is true or false
The table below shows how quantities of gold demanded and supplied will vary with the price in the market for gold. When the market for gold is in equilibrium, which of the following will be true?
a. The price of gold will be $200 per ounce. b. The quantity of gold exchanged per day will be 15,000 ounces. c. Both A and B. d. The price of gold will be $250. e. The price of gold will be $300.
When expectations are rational, disequilibrium in the labor market would exist only temporarily as a result of unpredictable shocks in the economy.
Answer the following statement true (T) or false (F)