If the Consumer Price Index was 120 in one year and 115 in the next year, then the rate of inflation from one year to the next was:
A. positive 4.2 percent.
B. negative 5.0 percent.
C. negative 4.2 percent.
D. positive 5.0 percent.
Answer: C
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Mergers are closely scrutinized by the government because
A) they might allow the firms involved to dominate the market and act as a legalized cartel (monopoly). B) they always result in a more efficient market. C) they always result in lower joint profits of the firms involved. D) all mergers are undesirable.
Which of the following statements represents a key point about strategic decision making?
A) Strategy is less important in nonconstant sum games than in constant sum games. B) The payoffs in cooperative games will always be higher than in noncooperative games. C) It is essential to understand your opponent's point of view and to deduce his or her likely responses to your actions. D) Optimal strategies in cooperative games always lead to economically efficient outcomes.
In the market for both renewable and nonrenewable resources, the timing of the use of resources depends on:
a. the alternatives uses to which the resource is put. b. the market rate of interest. c. the availability of substitutes. d. the elasticity of demand for resources. e. government regulations.
Per capita income is calculated by
a. income growth – population growth b. income growth × population growth c. income growth/population growth d. income/population e. income growth + population growth