The CPI in year one equaled 1.45. The CPI in year two equaled 1.51. The rate of inflation between years one and two was ________ percent.
A. 4.0
B. 6.0
C. 4.1
D. 4.5
Answer: C
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Economists generally agree that the most important tax in the U.S. economy is the
a. investment tax. b. sales tax. c. property tax. d. labor tax.
Education is subsidized because it generates beneficial externalities.
Answer the following statement true (T) or false (F)
Which of the following is true?
a. Kremer argued that with greater population, society would generate more ideas so that growth of real GDP per person could continue. Malthus argued that increasing population would outstrip agricultural production. b. Kremer argued that increases in population would reduce the amount of human and physical capital per worker so that eventually the standard of living would decline. Malthus argued that increases in technology would allow increased output growth so that even with population growth, society would enjoy a higher standard of living. c. Malthus argued that with greater population, society would generate more ideas so that growth of real GDP per person could continue. Kremer argued that increasing population would outstrip agricultural production. d. Malthus argued that increases in population would reduce the amount of human and physical capital per worker so that eventually the standard of living would decline. Kremer argued that increases in technology would allow increased output growth so that even with population growth, society would enjoy a higher standard of living.
When domestic prices rise,
A. people buy fewer imported goods. B. exports rise. C. exports fall. D. business investment rises because interest rates fall.