If the CPI is 231.4 in one year and is 241.2 in the next year, then the inflation rate equals

Disposable income is best defined as

a. income adjusted for inflation b. nominal income c. the income remaining after bills have been paid d. income after taxes have been paid and transfers received e. income paid in dollars that are worthless

The mainstream view among economists is that

a. society faces a tradeoff between unemployment and inflation, but only in the short run. b. society faces a tradeoff between unemployment and inflation, but only in the long run. c. society faces a tradeoff between unemployment and inflation, both in the short run and in the long run. d. no tradeoff exists between unemployment and inflation, either in the short run or in the long run.