The consumer price index tries to gauge how much incomes must rise to maintain
a. an increasing standard of living.
b. a constant standard of living.
c. a decreasing standard of living.
d. the highest standard of living possible.
b
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The time it takes for a one-dollar addition to bank reserves to work its way through the banking system and the financial portfolios of the public and have its full impact on the stock of money
A) is about one quarter of a year. B) is between six and nine months. C) is not yet known precisely because little empirical research has been done on the question. D) probably cannot be predicted from an examination of historical data.
If a rise in the price of good 1 decreases the quantity of good 2 demanded
A) the cross elasticity of demand is negative. B) the cross elasticity of demand is positive. C) good 1 is an inferior good. D) good 2 is an inferior good.