In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the inflation rate in 2013?
A) 69 percent
B) zero
C) 31 percent
D) 2 percent
A
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According to the U.S. Treasury
A) creditors do not have to accept cash in payment of debts. B) firms do not have to accept cash as payment for goods and services. C) the government will not accept cash in payment of taxes. D) U.S. dollars must be accepted as payment for any good or service sold in the United States.
Suppose that we are at a point on the money demand schedule where (M/P) = 500. At a constant interest rate, the quantity of money demanded increases when real income ________ so that ________
A) rises, the money demand schedule shifts to the right B) rises, the money demand schedule shifts to the left C) rises, we move downward along the money demand schedule D) falls, the money demand schedule shifts to the left E) falls, we move upward along the money demand schedule
Under the IMF fixed exchange rate system, a nation running a balance of payments deficit would have an excess __________ its currency in the foreign exchange market and that nation's central bank would have to __________ some of its currency to
maintain the fixed exchange rate. A) supply of; buy B) supply of; sell C) demand for; buy D) demand for; sell
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A. benefits-received B. inexpensive-to-collect C. ability-to-pay D. fairness of contribution