Suppose the price level this year is 150 and the price level last year was 125. The inflation rate between last year and this year was

The third round of quantitative easing, announced in September 2012, was focused on purchases of:

A) short-term Treasury bills B) long-term Treasury notes C) long-term Treasury notes and sales of short-term Treasury bills D) mortgage-backed securities

The largest component of current consumption expenditure is ________, while the most volatile component is ________

A) durable goods, nondurable goods B) durable goods, services C) services, durable goods D) services, nondurable goods E) nondurable goods, services