Suppose a basket of goods and services has been selected to calculate the CPI and 2009 has been selected as the base year. In 2007, the basket's cost was $64; in 2009, the basket's cost was $68; and in 2011, the basket's cost was $70 . The value of the CPI in 2011 was
a. 97.14.
b. 100.10.
c. 102.94.
d. 109.38.
c
Economics
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U.S. Treasury deposits at the Fed are
A) part of M1, M2, and M3. B) part of M1 and M2. C) part of M1. D) not part of the money supply.
Economics
The shape of the short-run average total cost curve is a result of
A) economies of scale. B) diseconomies of scale. C) the law of diminishing marginal product. D) falling profits.
Economics