If the CPI is 85, by what percent did prices decline since the base year?
What will be an ideal response?
15 percent
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In the global recession of 2007-2009, world trade declined because nations closed their markets to trading partners
Indicate whether the statement is true or false
The Federal Reserve Banks are ________ institutions since they are owned by the ________
A) quasi-public; private commercial banks in the district where the Reserve Bank is located B) public; private commercial banks in the district where the Reserve Bank is located C) quasi-public; Board of Governors D) public; Board of Governors
If planned autonomous investment is 500, autonomous consumption 300, induced consumption 2500, savings 500, and government spending and taxes zero, then
A) Ep is 3300 and the economy is in equilibrium. B) Ep is 3300 and the economy is out of equilibrium. C) Ep is 3500 and the economy is in equilibrium. D) Ep is 3500 and the economy is out of equilibrium.
An attorney for a firm that is arguing that its market is competitive rather than monopolistic would be most likely to argue that the relevant market is shown by a:
A. three-digit North American Industry Classification System (NAICS) industry. B. six-digit North American Industry Classification System (NAICS) industry. C. five-digit North American Industry Classification System (NAICS) industry. D. four-digit North American Industry Classification System (NAICS) industry.