Quotas redistribute income from consumers to domestic producers

Suppose that the consumer price index at year-end 2008 was 140 and by year-end 2009 had risen to 150 . What was the inflation rate during 2009?

a. 7.1 percent b. 10 percent c. 14.2 percent d. 50 percent

When the money market is drawn with the value of money on the vertical axis, the value of money decreases if

a. either money demand or money supply shifts right. b. either money demand or money supply shifts left. c. money demand shifts right or money supply shifts left. d. money demand shifts left or money supply shifts right.