The CPI in 2010 was 218, while the CPI in 1980 was 82. If you had $5,000 in 1980, its equivalent purchasing power in 2008 would be $10,850
Indicate whether the statement is true or false
FALSE
Economics
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The reason the marginal cost curve eventually increases as output increases for the typical firm is because of
A. diseconomies of scale. B. increasing opportunity cost. C. diminishing marginal returns. D. diminishing marginal utility.
Economics
Commercial banks are able to create money because
What will be an ideal response?
Economics
Property owned by groups is called:
A. Shared property B. Public property C. Private property D. Common property
Economics
Use the above figure. If this monopolist was not regulated, the profit-maximizing quantity and price would be
A. Q3 and P2. B. Q2 and P1. C. Q4 and P1. D. Q2 and P3.
Economics