Assume that the current price of a market basket of goods is $2,500 and the base year price of the same market basket is $1,340. The price index is
A) 53.6.
B) 40.0.
C) 138.3.
D) 186.6.
D
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The marginal productivity standard of income distribution:
a. provided maximum incentive for productivity b. requires government redistribution of income c. is based on the theory that a dollar income provided greater utility to a poor person than a rich person d. all of the above
An indirect or inverse relationship between price and quantity demanded is
A) the market clearing price. B) a change in demand. C) a supply curve. D) a demand curve.
A move from N to O best represents a
A. An increase in quantity demanded.
B. A decrease in quantity demanded.
C. increase in demand.
D. decrease in demand.
The unemployment rate generally ________ during recessions and generally ________ during expansions
A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases E) increases; does not change