Suppose that the CPI in Egypt was 111 in 2015 and 122 in 2016. The inflation rate between those two years was approximately:
A. 4.8 percent.
B. 5.5 percent.
C. 9.9 percent.
D. 11 percent.
Answer: C
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Explain, in detail, how the adjustment to macroeconomic equilibrium occurs when spending is less than production. Be sure to discuss how inventories play a crucial role in the adjustment process
State what happens to GDP and employment during the adjustment process.
A company draws its total cost curve and total revenue curve on the same graph. If the firm wishes to maximize profits, it will select the output at which the
A. vertical distance between the two curves is greatest. B. total cost curve cuts the total revenue curve. C. horizontal distance between the two curves is greatest. D. slope of the total revenue curve is greatest.
Collin has lost his job with a telemarketing company, which has moved its operation to India. Collin is considered
A) structurally unemployed. B) frictionally unemployed. C) seasonally unemployed. D) a discouraged worker.
Which of the following characteristics of competitive markets is necessary for firms to be price takers? (i) There are many sellers. (ii) Firms can freely enter or exit the market. (iii) Goods offered for sale are largely the same
a. (i) and (ii) only b. (i) and (iii) only c. (ii) only d. (i), (ii), and (iii)