Suppose the index of prices received by farmers for 2000 was 1.02 and the base year of this index was 1995. Then
A) relative to 1995, farm prices were 2% higher in 2000.
B) relative to 1995, farm prices were 102% higher in 2000.
C) relative to 2000, farm prices were 2% higher in 1995.
D) relative to 2000, farm prices were 102% higher in 1995.
Answer: A
Economics
You might also like to view...
A disagreement involving two or more unions over which should have control over a particular firm or industry is
A) a closed shop. B) a union shop. C) a jurisdictional dispute. D) an industrial union.
Economics
The contention that domestic unions tend to want to restrict foreign competition with tariffs is
A) a national defense concern. B) the infant industry argument. C) dumping. D) to protect domestic jobs.
Economics