Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the basket's cost was $77; in 2013, the basket's cost was $82; and in 2014, the basket's cost was $90 . The value of the CPI in 2014 was
a. 109.8 and the inflation rate was 9.8%.
b. 109.8 and the inflation rate was 16.9%.
c. 116.9 and the inflation rate was 9.8%.
d. 116.9 and the inflation rate was 16.9%.
c
You might also like to view...
Assume that the demand curve for DVD players shifts to the left and the supply curve for DVD players shifts to the right, but the supply curve shifts less than the demand curve. As a result,
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will increase. D) the equilibrium price of DVD players will decrease; the equilibrium quantity will increase.
The long-run equilibrium level of RGDP only changes when the LRAS shifts
a. True b. False Indicate whether the statement is true or false