If the price index in a country for the years 2012 and 2014 were 100 and 112, respectively, the inflation rate in 2014 was _____
a. 12 percent
b. 20 percent
c. 10 percent
d. 5 percent
a
You might also like to view...
The major difference between a closed economy and an open economy is that a(n)
a. closed economy balances budget, while an open economy does not. b. open economy is a market economy, while a closed economy relies on planning. c. open economy interacts with the rest of the world, while a closed economy does not. d. closed economy keeps political affairs secret, while an open economy does not.
In equilibrium, which of the following statements regarding the relative price of a tomato versus a book is CORRECT?
I. It is the opportunity cost of a tomato. II. It is how much the production of books must fall in order to produce another tomato. a. I b. II c. Neither is correct. d. Both are correct.
The corporation income tax causes
A. more capital to be used in both the corporate sector and the noncorporate sectors. B. less capital to be used in both the corporate sector and the noncorporate sectors. C. capital to flow from the corporate sector to the noncorporate sector. D. capital to flow into the corporate sector from the noncorporate sector.
Suppose the market for autoworkers is initially in equilibrium, but then the automakers purchase capital goods that are a substitute for workers. What happens in the market for autoworkers?
What will be an ideal response?