Suppose we shopped for a basket of goods in Year 1 and it cost $350. Suppose the same basket of goods adds up to $385 in Year 2. If we use Year 1 as a base year, what would be the Year 2 CPI?

The number of units of developing country currency required to purchase a basket of goods and services in a developing country that costs one dollar in the U.S. is given by

a. GNI price deflator. b. Human Development Index ranking. c. purchasing power parity. d. the exchange rate.

The short run is a period of time:

a. in which a firm uses at least one fixed input. b. that is long enough to permit changes in the firm's plant size. c. in which production occurs within one year. d. in which production occurs within six months.