During 2017, the rate of inflation was 2 percent. Daniel sold basketballs that year for $16. If Daniel continued to sell basketballs for the same price in 2018, how did the relative price of basketballs change?
a. –2 percent
b. –1 percent
c. 2 percent
d. 1 percent
a. –2 percent
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The currency adopted by most countries in Western Europe is referred to as the
A) euro. B) pound. C) Eurodollar. D) yen.
If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years?
A) 270% B) 50% C) 5% D) 2.7%
The forces of demand and supply ensure that at equilibrium
A. there are no shortages or surpluses. B. there are no shortages, but there may be surpluses. C. there are no surpluses, but there may be shortages. D. there may be shortages or surpluses.
The most effective form of business organization for raising money to finance the expansion of its facilities and capabilities is a:
A. partnership. B. conglomerate. C. sole proprietorship. D. corporation.