The data in the table above shows the consumption by families in a small (poor) economy. The families consume only salt and bread. The reference base period is 2011. The inflation rate between 2011 and 2012 is
A) 52.5 percent.
B) 123.1 percent.
C) 23.1 percent.
D) 18.8 percent.
E) 118.8 percent.
C
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Answer the following statement(s) true (T) or false (F)
1. The sum of all polluters’ MACs equals the marginal social cost (MSC) of abatement. 2. Much of the air pollution in Catano, Puerto Rico was linked to a nearby oil refinery. 3. By definition, the marginal abatement cost (MAC) curve shows the change in costs associated with higher levels of abatement, using the most widely available technology. 4. The marginal cost of enforcement (MCE) must be added vertically to the MACmkt to derive the marginal social cost (MSC) of abatement function. 5. If a standard is set to balance the well-being of society with the associated costs, it is called a benefit-based standard.
Which of the following restricts the volume of international trade?
a. stable prices b. tariffs c. the law of comparative advantage d. a stable international monetary system.
When U.S. residents buy foreign assets from foreigners, the ______.
a. monetary outflows provide foreigners with U.S. dollars b. purchases are recorded as debits in the current account c. monetary inflows provide U.S. residents with foreign currency d. purchases are recorded as credits in the financial account
Under the existing system of partially-flexible exchange rates, a country experiencing what it believes is a long-term balance of payments deficit might be expected to:
A. let its currency lose value. B. buy its own currency in the foreign exchange market. C. sell its own currency in the foreign exchange market. D. let its currency gain value.