The price index for the current year is 180 . This means that, on average, prices in the current year are:
a. 80 percent of prices in the base year.
b. $1.80 higher than prices in the base year.
c. 180 percent higher than prices in the base year.
d. $0.80 higher than prices in the base year.
e. 80 percent higher than prices in the base year.
e
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Which of the following statements is true?
A) Firms are the demanders in the market for labor as well as the market for consumer goods. B) Firms are the suppliers in the market for labor as well as the market for consumer goods. C) Firms are the demanders in the market for labor, whereas they are the suppliers in the market for consumer goods. D) Firms are the suppliers in the market for labor, whereas they are the demanders in the market for consumer goods.
Which of the following is likely to have the smallest price elasticity of demand?
A) an automobile B) a new automobile C) a new Ford automobile D) a new Ford Mustang
The employment ratio is the ________
A) labor force divided by the population B) proportion of the civilian working-age population that is employed C) number of individuals employed divided by the size of the labor force D) number of individuals employed divided by the number of the unemployed
On which of the following types of unemployment do macroeconomic tools have the greatest effect?
a. Frictional unemployment b. Seasonal unemployment. c. Structural unemployment. d. Cyclical unemployment. e. All the above.