If the CPI was 121.5 at the end of last year and 138.3 at the end of this year, the inflation rate over these two years was
A) 10.2 percent.
B) 13.8 percent.
C) 12.2 percent.
D) 16.8 percent.
B
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If the equilibrium price level is 135 but the actual price level is 150, then
A) firms increase their production because they are able to sell their output at a higher than expected price. B) aggregate demand will decrease to restore equilibrium. C) aggregate demand will increase to restore equilibrium. D) the quantity of real GDP demanded is less than the quantity of real GDP supplied. E) the quantity of real GDP demanded is greater than the quantity of real GDP supplied.
The table below shows data (in millions) for Sun Trust Banks in September 2007 and September 2008
2007 2008 Loans $83 $78 Reserves $4 $5 Deposits $114 $95 The data show that Sun Trust A) increased its reserve ratio to 5.3 percent over the 12 months. B) increased its reserve ratio to 6.4 percent over the 12 months. C) has fewer excess reserves in 2008. D) faced a higher currency drain ratio in 2008.
Suppose the people of Rhodia spend $70 and save $30 for every $100 they earn. In this case, the marginal propensity to consume equals _____
a. 0.3 b. 0.7 c. 0.5 d. 0.8
When the wage increases:
A. all workers will work more hours. B. all workers will work fewer hours. C. some workers will work more hours and some workers will work fewer hours, but on average, hours worked will increase. D. some workers will work more hours and some workers will work fewer hours, but we don't know whether average hours will increase or decrease.