A GDP price index of 130 in year 2 means that ________.
A. prices in year 2 are on average 130% higher than in the base year
B. prices in year 2 are on average 13 times that in the base year
C. nominal GDP is 130% higher than real GDP in year 2
D. prices in year 2 are on average 30% higher than in the base year
Answer: D
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A) only Anya and Basil will buy tickets. B) Celeste's consumer surplus is $25. C) the total consumer surplus from the purchase of tickets will be $61. D) everyone will buy a ticket except for Esther.
Effluent taxes are not the most common approach used to control pollutants in the United States
a. True b. False Indicate whether the statement is true or false