The price of an nonrenewable resource is expected to rise at a rate equal to the

The data in the table above shows the consumption by families in a small (poor) economy. The families consume only salt and bread. The reference base period is 2011. The inflation rate between 2011 and 2012 is

A) 52.5 percent. B) 123.1 percent. C) 23.1 percent. D) 18.8 percent. E) 118.8 percent.

Which of the following statements is false?

A) Each year the United States exports about 50 percent of its wheat crop and 20 percent of its corn crop. B) Exports benefit trading countries because exports create jobs. Imports do not benefit trading countries because they result in a loss of jobs. C) Not all sectors of the U.S. economy are affected equally by international trade. D) Most of the leading exporting countries are large, high-income countries.