Which of the following statements is true?
A) Base year prices are necessarily higher than current year prices.
B) The CPI in the base year is always 100.
C) If the CPI is 112 in year 1 and 123 in year 2, prices have risen by approximately 9.8 percent between the two years.
D) b and c
E) a, b, and c
D
Economics
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Which of the following factors has the most quantitative importance on the oversimplified multiplier formula?
a. it ignores variable imports b. it ignores price-level changes c. it ignores income taxes d. All of these equally affect the oversimplified multiplier formula
Economics
Each of the following is a determinant of demand except
a. tastes. b. production technology. c. expectations. d. the prices of related goods.
Economics