If Year 1 is the base year, the CPI for Year 2 is approximately
A) 100.0.
B) 126.3.
C) 131.3.
D) 181.0.
C
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Refer to the table above. What is the total cost of producing 145 units of the good?
A) $90 B) $180 C) $190 D) $210
Which of the following is false?
A. The U.S. has had twelve recessions since January 1945. B. The U.S. has had a great deal of stagflation in the 1970s. C. The U.S. has not had a depression since the 1930s. D. The U.S. had rising inflation all throughout the 1990s.
How would the market for coffee be affected if the government charged an excise tax of $1.00 on each unit of coffee sold?
A) There would be a shortage of coffee. B) The demand for coffee would increase. C) The demand for coffee would decrease. D) The supply curve would shift up vertically by $1.00.
In a binding situation, the ________ curve is ________.
A. AD; vertical B. AS; horizontal C. AS; vertical D. AD; horizontal