If the CPI is 112 in Year Z, then it costs _______ in Year Z to buy the same market basket that cost _______ in the base period.
A. $112; $100
B. $12; $100
C. $100; $112
D. $112; $12
A. $112; $100
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Important factors that change the demand for dollars and hence shift the demand curve for dollars include which of the following?
I. interest rates around the world II. the current exchange rate III. the expected future exchange rate A) I and II B) I and III C) II D) I, II, and III
If the quantity of fishing poles demanded is represented by the demand equation QD = 60 - P, then to solve for the price of fishing poles, the equation would be rewritten as
A) P = -60 + QD. B) P = QD + 60. C) P = 0.6QD + 10. D) P = 60 - QD.
A flat tax: a. is designed so that everybody would pay the same number of dollars in taxes
b. is designed in such a way that as a person's income rises, the tax rate falls. c. is designed so that everybody would be charged the same percentage of their income. d. is designed to take a smaller percentage of higher incomes as compared to lower incomes.
In response to the deep economic downturn in the US in 2008 and 2009, the US
a. reduced taxes. b. increased government spending. c. increased the supply of money. d. All of the above are correct.