Suppose the CPI in 1983 is 100 and the CPI this year is 172. These values for the CPI mean that
A) inflation between the two years was 172 percent.
B) typically, a good whose price was $100 in 1983 had a price of $172 this year.
C) typically, a good whose price was $172 in 1983 had a price of $100 this year.
D) typically, a good whose price was $100 in 1983 had a price of $139 this year.
E) typically, a good whose price was $100 in 1983 had a price of $58 this year.
B
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As long as the value of additional units of output exceed the opportunity cost of that output, _____
a. it will not be produced b. it likely will not be produced c. it will be produced d. it is likely to be produced
The problems of inflation are caused primarily by: a. greed on the part of sellers
b. uncertainty about inflation. c. too much incentive to lend money. d. greed on the part of union leaders. e. governments' actions to reduce the effects of inflation.