Related to the Economics in Practice on p. 455: The Consumer Price Index in the United States was 207.3 in 2007, 215.3 in 2008 and 214.5 in 2009. If a retiree's pension is tied to the CPI, her monthly pension check would have ________ from 2007 to 2008, and ________ from 2008 to 2009.
A. increased; decreased
B. decreased; increased
C. decreased; decreased
D. increased; increased
Answer: A
You might also like to view...
A country undertakes a devaluation in order to
A) decrease its net exports. B) raise the value at which its currency is pegged. C) move to a flexible exchange rate system. D) increase its net exports.
Consumers' total benefit from consuming a good is equal to the
A) total amount spent on the good. B) consumer surplus on the quantity purchased. C) consumer surplus plus the total amount spent on the good. D) consumer surplus minus the total amount spent on the good. E) total amount spent on the good divided by the number of units purchased.
To say that turnips are inferior goods means that the income elasticity
A) is definitely greater than 1. B) is definitely between 0 and 1. C) is positive but could be greater than or less than (or equal to) 1. D) is negative.
The continued position of the United States as the world's economic leader is:
a. assured b. predictable c. automatic d. uncertain