The formula for the CPI is
A) (Cost of CPI market basket at base period prices ÷ Cost of CPI market basket at current period prices) × 100.
B) (Cost of CPI market basket at current period prices ÷ Cost of CPI market basket at base period prices) × 100.
C) (Cost of CPI market basket this year × Cost of CPI market basket at base period prices) × 100.
D) (Cost of CPI market basket this year × Cost of CPI market basket at base period prices) ÷ 100.
E) (Cost of CPI market basket at current period prices ÷ Cost of CPI market basket at next year's prices) × 100.
B
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The expected real cost to a firm of using an additional unit of capital during a period of time is the
A) user cost of capital. B) marginal product of capital. C) marginal cost of capital. D) opportunity cost of capital.
In the face of the 2007-2009 recession, the President, Congress, and the Fed
a. decided to rely on the self-correcting mechanism of the economy to eliminate inflation. b. decided to rely on the self-correcting mechanism of the economy to reduce unemployment. c. pursued an active policy to balance the budget and fight inflation. d. pursued an active policy to expand aggregate demand.