Between 1980 and 2000 the price level approximately doubled. The average annual rate of inflation over this 20-year period was about:
A. 5.5 percent.
B. 4.7 percent.
C. 3.5 percent.
D. 2.8 percent.
C. 3.5 percent.
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Refer to Table 9-18. Looking at the table above, what is the rate of growth of real average hourly earnings from 2015 to 2016?
A) 7.8% B) 6.25% C) 4% D) -4%
Expenditure changes may be potentially inequitable, as are tax changes, because
A) their spatial distribution must be determined by the legislature. B) their spatial distribution must be determined by the Fed. C) the government is slow to implement new programs. D) unlike Japan, public works projects are the province of the executive branch.
According to real business cycle theory, business cycles
a. can be eliminated with appropriate monetary and fiscal policy. b. are natural and efficient reactions to changes in productivity. c. do not occur. d. occur infrequently. e. none of the above.
The designate M1 measure of money consists of
A) the most liquid types of money in the U.S. system. B) small time deposits only. C) credit cards and ATM cards. D) gold and gold coins.