Suppose that the CPI in 1990 was 150, that the inflation rate in 1991 was 6%, and that the inflation rate in 1992 was 4%. What was the CPI in 1991 and 1992?
The CPI in 1991 was 159, and the CPI in 1992 was 165.36.
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A monopoly is likely to charge a higher price than an otherwise similar competitive industry would be
a. True b. False
When the housing market bubble burst, many people found that:
A. they owed more than their house was now worth. B. it was much easier to sell their home. C. the value of their homes exceeded their mortgage loans. D. there was a limited number of houses for sale.
When a union raises the wage above the equilibrium level, it reduces the quantity of labor supplied and raises the quantity of labor demanded, resulting in unemployment
a. True b. False Indicate whether the statement is true or false
Historically, price discrimination was considered illegal in all instances. More recently, antitrust authorities have discovered that
A) price discrimination can increase the coverage of a market thereby increasing welfare. B) price discrimination limits the coverage of a market thereby increasing welfare. C) price discrimination limits the coverage of a market thereby decreasing welfare. D) price discrimination can increase the coverage of a market thereby decreasing welfare.