The value of a basket of goods and services in 2010 and 2012 were $800 and $900, respectively. If 2012was the base year, the price index for this base year was _____
a. 88.9
b. 100
c. 120
d. 112.5
b
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The price elasticity of demand for bread
a. is computed as the percentage change in quantity demanded of bread divided by the percentage change in price of bread. b. depends, in part, on the availability of close substitutes for bread. c. reflects the many economic, social, and psychological forces that influence consumers' tastes for bread. d. All of the above are correct.
Which of the following is a demand factor in the market for health care?
A. The number of nurses graduating from universities B. Productivity in the health care industry C. Changes in medical technology D. Physicians' treatment decisions
The supply of loanable funds is the relationship between loanable funds and ________ other things remaining the same
A) real GDP B) the price level C) the real interest rate D) the inflation rate
Since the future holds more uncertainty over longer periods of time, lenders generally want a:
A. constant interest rate for loans over the period of the loan. B. higher interest rate for loans over a longer period. C. lower interest rate for loans over a longer period. D. higher interest rate for loans over a shorter period.