You are given information on the consumer price index (CPI), where the values given are those for December 31 of each year.
In which year was the inflation rate the highest?
A. 2006
B. 2009
C. 2007
D. 2008
Answer: A
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Structural change influences the unemployment rate and such structural change is created by changes in
A) real GDP. B) technology. C) the minimum wage. D) population. E) the seasons.
If a person is risk averse, then she has negative marginal utility of wealth
Indicate whether the statement is true or false
Which of the following goods is least likely to be in a market basket?
A. Streetlamps B. Airfare C. Coffee beans D. Shuttle service
As applied to the price level, the "rule of 70" indicates that the number of years required for the price level to double can be found by:
A. dividing 70 into the annual rate of inflation. B. dividing the annual rate of inflation into 70. C. subtracting the annual change in nominal incomes from 70. D. multiplying the annual rate of inflation by 70.