With base year 1990, the index of industrial production for the year 1999 is 112. What will be the value of the index in 1999, if the base year is changed to 1982 and the index measured 96 in 1982?
A. 112.24
B. 116.66
C. 85.71
D. 92.09
Answer: B
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A. decrease; decrease B. remain constant; remain constant C. increase; increase D. decrease; remain constant
Which of the following categories of business cycle theories includes the rational expectations theory?
a. physical b. monetary c. psychological d. spending and saving
A perfectly inelastic demand curve indicates that
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Nick worked for a large boat dealer for years but now he wants to start his own boat and accessories shop. All of the following are challenges he may face EXCEPT
a. being underfunded. b. poor site selection. c. inability to adapt to changing market demands. d. not understanding legal and ethical responsibilities. e. pricing mistakes.