Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the basket's cost was $77; in 2013, the basket's cost was $82; and in 2014, the basket's cost was $90 . The value of the CPI in 2014 was
a. 109.8 and the inflation rate was 9.8%.
b. 109.8 and the inflation rate was 16.9%.
c. 116.9 and the inflation rate was 9.8%.
d. 116.9 and the inflation rate was 16.9%.
c
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Which of the following factors could cause the economy to experience supply-side inflation?
A) increased security about jobs and future income B) Develop new technology to increase productivity. C) government laws which say that the average work week must be reduced by one hour every year D) Increase the number of immigrants allowed into the country.
Which of the following applies to discouraged workers?
(A) They are included in the unemployment rate. (B) They are workers who were injured on the job and can no longer work. (C) They are workers who move to another country to look for work. (D) They are not included in the unemployment rate.
Coffee is an example of a product that has been successfully labeled and marketed based on its production method or environmental protection
Indicate whether the statement is true or false
The gold standard
A. worked well until World War II. B. will not work well when the world's gold supply increases as fast as the world's need for money. C. fell apart as the Great Depression spread, as nation after nation devalued its currency. D. makes monetary policy more effective.