If the CPI was 110 this year and 100 last year, then
a. the cost of the CPI basket of goods and services increased by 10 percent this year.
b. the price level increased by 110 percent this year.
c. the inflation rate for this year was 10 percent higher than the inflation rate for last year.
d. All of the above are correct.
a
Economics
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Import quotas ________ the price of imported goods and ________ the quantity consumed in the nation imposing the quota
A) raise; increase B) raise; decrease C) lower; increase D) lower; decrease
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Which of the following will shift the aggregate demand curve to the right?
A. Income taxes are raised. B. Business managers become pessimistic about the future. C. Consumers become pessimistic about the future. D. The government increases spending on education.
Economics