Suppose that the consumer price index (CPI) was 160 in Year X and 166 in Year Y, inflation during Year Y was approximately:
a. zero; prices were stable.
b. 3.8 percent.
c. 6 percent.
d. 66 percent.
b
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Refer to Figure 22.5 below. Suppose that the initial budget constraint AB is given by the equation G = 150 - c/5, where G is the units of public good and c is consumption. A closed- ended matching grant up to 100 units of public good is proposed. If the slope of line segment AD is -2, write the equation of the new budget constraint after a closed-ended matching grant.
An example of a "missing" market would be:
A. the market to buy and sell children for adoption. B. the market to buy and sell a kidney. C. the market to buy and sell dates for a Friday night. D. All of these markets are missing.
The Federal Reserve reduced the fed funds rate to the 0-0.25 percent range in 2008 in response to the Lehman Brother's catastrophe
a. True b. False Indicate whether the statement is true or false
In the United States, direct expenditures for governments between 1933 and 1943
A. Trended down for all governments. B. Trended up for state and local governments and down for the federal government. C. Trended up for all governments. D. Trended down for state and local governments and up for the federal government.