YearCPI2010952011100201210520131042014106According to the table shown, what can be said about the cost of living in 2011?
A. It is the base year, so no comparisons can be made in this year.
B. It is the base year, so the cost of the basket of goods did not change.
C. It increased by 5.0 % from the previous year, and consumers were better off if their nominal income did not change.
D. It increased 5.3 % from the previous year, and consumers were worse off if their nominal income did not change.
Answer: D
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During this year a country reports imports of $1,000 billion, exports of $1,100 billion, foreign investment in the country of $900 billion, investment abroad of $1,200 billion, net interest and net transfers of zero
What is the country's current account balance?
Markets never fail
Indicate whether the statement is true or false
Which of the following is not generally considered a failing of market economies?
A. Market economies can have severe swings from boom to bust. B. Market economies tend to underprovide public goods. C. Market economies tend to promote equity at the expense of efficiency. D. Market economies can misallocate resources when property rights are ill defined.
Distinguish between craft unions and industrial unions
What will be an ideal response?