A normative statement is descriptive—it describes what happens and why it happens
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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If the CPI in 2004 is 200, and in 2005 the CPI is 180, the rate of inflation from 2004 to 2005 is
A) 20%. B) 10%. C) 0%. D) -10%.
Economics
Suppose that the demand for electricity has been found to be price inelastic. The most likely explanation for this finding is that:
A. electricity is a luxury good. B. electricity is sold in a monopoly market. C. the fraction of income spent on electricity is large. D. few substitutes for electricity exist.
Economics