The table above gives the CPI for a nation. Based on the table, we can determine that the reference base period is
A) 1994.
B) 1996.
C) 1998-2000.
D) 2002.
E) More information about when the Consumer Expenditure Survey was undertaken is needed to answer the question.
C
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By the accelerator hypothesis, if a firm's actual sales jump in one period to a higher maintained level, that firm's capital stock
A) also jumps in one period to a higher maintained level. B) gradually drifts upward to a higher maintained level. C) jumps upward and then falls back to zero. D) jumps upward and then falls back part of the way.
A primary objective of labor unions is to
A) secure equal pay for its members. B) have equal power with their employer. C) seek better pay and improved work conditions. D) all of the above. E) none of the above.
When the Keynesian-cross model is in equilibrium, income equals output and aggregate expenditure equals output
a. True b. False Indicate whether the statement is true or false
Explain why the marginal propensity to save and the marginal propensity to consume sum to 1.
What will be an ideal response?