If the dollar/pound exchange rate is $2/£, a Big Mac costs $5 in New York City and costs £4 in London, the pound is ________, and U.S. tourists will be ________

The main measure of inflation is the ________________ computed and reported each month by the Bureau of Labor Statistics

a. Consumer Price Index b. Product Producer Index c. Consumer Confidence Survey d. New Homes Sales Matrix

Suppose we shopped for a basket of goods in Year 1 and it cost $350 . Suppose the same basket of goods adds up to $385 in Year 2 . If we use Year 1 as a base year, what would be the Year 2 CPI?

a. 35. b. 90. c. 100. d. 110. e. 135.