What does it mean when the CPI is higher this year than last?
A) The rate of inflation has increased.
B) There has been inflation since last year.
C) Real prices have increased.
D) Real prices have decreased.
B
Economics
You might also like to view...
Actual GDP will be below potential GDP
a. when the economy is at full employment. b. during an economic boom. c. when resources are fully utilized. d. during a recession.
Economics
Calculate the percentage change in prices from 2007 to 2009.
A. 200% B. 100% C. 175% D. 150%.
Economics
What does the cross-price elasticity of demand measure? How is it calculated?
What will be an ideal response?
Economics
Explain the following statement: "Good decisions typically require marginal analysis, which weighs added costs against added benefits."
Economics