When 1983 is the CPI base year, the CPI value is 82.4 for 1980 and 172.2 for 2000. Suppose we want to convert this CPI series to have a base year of 2000 (that is, CPI2000 = 100). What is the value of the revised CPI for 1980?

Price elasticity of demand and price elasticity of supply are both influenced by

a. the availability of close substitutes for the product b. the proportion of the consumer's budget spend on the product c. the length of the adjustment period considered d. technological conditions such as the additional costs of increasing production e. none of the above

The value of an investment in an index fund depends on

A. the earnings estimate for the major index constituent. B. the average performance of all mutual funds. C. what happens to the prices of all stocks in that index. D. the specific stock selection practices employed by the fund manager.