Refer to Table 9-11. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 40.08 B) 100 C) 180 D) 208
D
Economics
You might also like to view...
The economic way of thinking includes:
A) attention paid to the opportunity costs involved in any choice. B) the assumption that individuals choose to average out some objective. C) concern with the biological make up of decision makers. D) emphasis on how choices affect total values rather than marginal values.
Economics
When Keynesians argue that "correlation does not necessarily imply causation," they are probably criticizing
A) structural-model evidence. B) reduced-form evidence. C) indirect-model evidence. D) black-box evidence.
Economics