If the price index is 100 this year, then:
a. there has been no inflation during the year
b. the price level is thrice as it was in the base year.
c. the price level is one hundred times what it was in the base year.
d. the price level is double what it was in the base year.
e. the inflation rate has been 100 percent since the base year.
a. there has been no inflation during the year
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Refer to Scenario 17.3. If the fire protection program were not in place, the insurer would not be willing to ensure the warehouse for any amount less than
A) $80. B) $300. C) $3,000. D) $6,000. E) $300,000.
If Big Box Store has customers with identical demands, if it practices two-part pricing, the profit-maximizing access fee is ________ the consumer surplus.
A) less than B) greater than C) exactly double D) equal to