Nominal government purchases were $2226.2 billion in 2008 and rose to $2372.8 billion in 2009. Real government purchases were $1940.6 for 2008 and $1958.0 for 2009, where 2005 was the base year
Calculate the percent change in the chain-weight price index for government purchases (rounded to the nearest percentage point) from 2008 to 2009. A) 2%
B) 4%
C) 6%
D) 8%
C
You might also like to view...
During the decade of the 1920s, the U.S. economy
(a) was generally healthy and gave no indication of the troubles that lay ahead regarding the Great Depression. (b) was relatively stagnant in terms of growth of total output with small declines in agriculture and housing, which suggested that difficult times might lie ahead in the 1930s. (c) experienced actual declines in overall production levels, including agriculture and housing, which suggested that even more difficult times probably lay ahead. (d) experienced relatively rapid growth in overall output but in the late 1920s nevertheless showed weaknesses in certain sectors such as agriculture, housing and the financial sector, which suggested the possibility of difficult times ahead.
In the long run, total fixed cost will:
a. remain constant. b. increase. c. decrease. d. not exist by definition.
The Laffer curve depicts a basic idea of which of the following schools?
a. supply-side economics b. rational expectations c. Keynesian d. neo-Keynesian e. classical
Suppose that everybody pays the same price for auto insurance. What should happen to the price of insurance if the law changes from a system where there is mandatory auto insurance to one where there is voluntary auto insurance?
What will be an ideal response?