Suppose the price index is 100 in the base year and the price of a pound of oranges in that year is $1.96 . Now, if the price index changes to 105 in the following year, how much would a pound of oranges cost?
a. $2.45
b. $0.25
c. $1.96
d. $2.06
e. $1.50
d
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Black markets only exist in developing nations
Indicate whether the statement is true or false
Among the causes of an increase in labor demand is ________
A) improved availability and affordability of day care for children B) an increase in enrollment at colleges C) an increase in the college wage premium D) an expansion of economic activity
Which term means "making decisions based on what you believe is the best combination of costs and benefits?"
a. economizing b. impulse spending c. cutting back d. motivating
How did a great expansion of globalization in the late 1990s increase productivity?
A. Businesses learned how to use computers to produce more output with fewer workers. B. Businesses began sending workers overseas for more training. C. Businesses were able to sell in larger markets as tariffs and import quotas were reduced. D. Businesses learned how to use foreign suppliers to cut costs.