Refer to Table 20-2. Assume the market basket for the consumer price index has two products—bread and milk—with the following values in 2011 and 2016 for price and quantity: The Consumer Price Index for 2016 equals

At the 1976 IMF conference in Jamaica,

A) the United States reaffirmed its commitment to buy and sell gold at a fixed price. B) currencies were formally allowed to float. C) the major countries of the world agreed to continue a system of fixed exchange rates. D) the gold standard was reestablished.

What is the real GDP after four years if Country X's average annual growth rate is 8.6 percent and the initial real GDP was $2,756.0 million?

A) $2,993.0 million B) $3,833.5 million C) $1,077.5 million D) $3,250.4 million