Last year the CPI was 177.1 and this year the CPI was 180.9. What is the inflation rate between these two years?
What will be an ideal response?
The inflation rate equals 100 × (180.9 - 177.1)/(177.1 ) = 2.1 percent.
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Refer to above figures. Prior to the shift of the curves, which panel and which curve involve the existence of negative externality?
A) Panel 1 and S1 B) Panel 1 and S2 C) Panel 2 and D1 D) Panel 2 and D2
The seven members of the Board of Governors of the Federal Reserve System are:
A. appointed by the presidents of the 12 Federal Reserve Banks. B. appointed by the Senate Finance Committee. C. elected by Congress from a slate of nominees provided by the president. D. appointed by the president with the confirmation of the Senate.
The Lorenz curve portrays:
A. the functional distribution of income. B. the ratio of labor to capitalist income. C. the personal distribution of income. D. income equality.
If Barbecue Bob has a right to own and use his backyard barbecue, then Barbecue Bob also enjoys
A) a right to pollute. B) a right to steal. C) a right to free charcoal. D) a right to clean air.