If the price of gasoline has increased from $2 per gallon to $4 per gallon at the same time that the overall price index increased from 200 to 450, then you know that the inflation adjusted price of gasoline has
A. decreased.
B. remained constant.
C. increased.
Answer: C
Economics
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Zoran, a Croatian citizen, only works in the United States. The value added to production from his employment is:
A) included in Croatian GDP. B) included only in U.S. GDP. C) included only in U.S. GNP. D) not included in either U.S. GDP or U.S. GNP.
Economics
Historical note: Because of its military importance, the U.S. government exercised monopoly control over which one of the following goods before World War II?
a. iron b. steel c. helium d. hydrogen e. coal
Economics