If the CPI rises from 206.7 to 212.7 between two consecutive years, by how much has the cost of living changed between these two years?
A) The cost of living has increased by 6%. B) The cost of living has increased by 12.7%.
C) The cost of living has decreased by 6%. D) The cost of living has increased by 2.9%.
D
Economics
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If for a given year nominal GDP is $2,000 billion and real GDP is $1,500 billion, then the GDP price index is
A) 133. B) 1.33. C) 100. D) 0.75. E) 750.
Economics
Suppose that the rest of the world experiences an economic boom causing an increase in foreign output (Y*). This increase in Y* will not cause which of the following to occur?
A) the domestic country's output to increase B) the domestic country's consumption to increase C) the domestic country's output to increase and its trade balance to worsen as imports increase D) all of the above E) none of the above
Economics