Refer to Table 9-19. Looking at the table above, what is the rate of growth of the average price level from 2014 to 2015?
A) 1% B) 2% C) 3% D) 4% E) 5%
E
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What is the crowding-out effect and how does it operate? What is its relationship to the Ricardo-Barro effect?
What will be an ideal response?
Economic costs include implicit costs but not explicit costs
Indicate whether the statement is true or false
The short-run refers to a period
a. of a few days. b. when prices and wages cannot fully adjust. c. of a few years. d. during which trend cannot change. e. of analysis used in the classical model
If the opportunity cost of producing one basketball in Romania is 3 Barbie dolls, while the opportunity cost of producing one basketball in Nigeria is 2 Barbie dolls, _______ has the comparative advantage in the production of basketballs.
A. Romania B. Nigeria C. both Romania and Nigeria D. neither Romania nor Nigeria