The information in the table above gives the 2012 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2013 prices. What is the value of the CPI for the reference base period, 2012?
A) 140
B) 133
C) 100
D) 75
C
Economics
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The Phillips curve
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If long run average costs rise with output, you have
a. Increasing returns to scale b. Decreasing returns to scale c. Constant returns to scale d. None of the above
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Suppose it costs Minnie's Mini-Golf (a monopolist) not a penny more to let another person on the course. If Minnie's faces a linear (downward-sloping) market demand curve, it will maximize profit by choosing the point on the demand curve at which
a. marginal revenue is greatest b. price elasticity is unit elastic c. price elasticity is inelastic d. price exceeds average total cost by the greatest amount e. price exceeds marginal cost by the greatest amount
Economics
Describe in general terms four or five characteristics of less-developed countries
Economics