Suppose the Consumer Price Index is 143.6. What does that number mean?
A) On average, goods cost $143.60.
B) On average, goods cost $243.60.
C) Prices rose 143.6 percent over the reference base period, on average.
D) Prices rose 43.6 percent over the reference base period, on average.
D
You might also like to view...
When a tax is imposed on a good or a service, the marginal benefit of the last unit bought ________ the marginal cost of the last unit
A) is equal to B) is greater than C) is less than D) None of the above answers is correct because there is no consistent relationship between the marginal benefit of the last unit and its marginal cost. E) is not able to be compared to
If the spending multiplier equals 6 and equilibrium real GDP is $32 billion below potential real GDP, then total planned expenditures need to decrease by approximately $5.33 billion to close the recessionary gap
a. True b. False Indicate whether the statement is true or false
In the value-added approach, GDP is the sum of revenue received by all firms in the economy
a. True b. False
Which one of the following government actions is intended to generate positive externalities?
A. Subsidies for planting trees on hillsides B. Requiring autos to meet minimum emissions regulations C. Speed limits on the highways D. Taxing polluting industries