A binding price ceiling causes a shortage in the market
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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When 1983 is the CPI base year, the CPI value is 82.4 for 1980 and 172.2 for 2000. Suppose we want to convert this CPI series to have a base year of 2000 (that is, CPI2000 = 100). What is the value of the revised CPI for 1980?
A) 172.2 B) 100 C) 47.9 D) 209.0
Economics
If market forces change the exchange rate value of one dollar from 80 yen to 83.25 yen, then the dollar has
A. appreciated. B. depreciated. C. been revalued. D. been devalued.
Economics