Price indexes like the CPI are calculated using a base year. The term base year refers to:
a. the first year that price data are available.
b. any year in which inflation was higher than 5 percent.
c. the most recent year in which the business cycle hit the trough.
d. an arbitrarily chosen reference year.
d
Economics
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Refer to the table above. Based on this information, we can conclude that Laborland has a ________
A) current account surplus B) current account deficit C) trade surplus D) budget deficit
Economics
Suppose that the money multiplier is 3. If the monetary base increases by $1 million, the quantity of money will
A) increase by $3 million. B) increase by $333,333. C) decrease by $3 million. D) decrease by $333,333.
Economics