Suppose a report from the Bureau of Labor Statistics states that the CPI for the year 2012 was 152. What is the percentage point increase in the prices of the goods and services since the reference base period?

During the late nineteenth century, the gold standard was a subject of controversy. Why?

A) Businesses resented fixed exchange rates because of their inability to raise or lower prices. B) Gold flows were erratic and resulted in a series of large economic swings—booms and busts. C) Prices were stable and predictable, but profits fell. D) Governments cheated on printing money, causing inflation problems all over the world.

Since 2000, the U.S. government has generally had a government budget ________ and so the national debt has ________

A) surplus; decreased B) surplus; increased C) deficit; decreased D) deficit; increased E) deficit; not changed