Multiple Choice
Suppose that 1983 is the base year for the Consumer Price Index (CPI) and in 2008 the CPI was 220.What does this "220" mean?
A) What cost $100 in 1983 on average cost 2.20 times as much in 2008.
B) What cost $100 in 1983 on average cost $220 more in 2008.
C) What cost $100 in 1983 on average cost 0.22 times as much in 2008 (that is, it cost $22 in 2008) .
D) What cost $100 in 1983 on average cost $22 more in 2008.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: The employment rate equals the number of<br>A)
Q28: In an economy with a population of
Q38: If a person worked at least 15
Q42: If a person is waiting to be
Q58: The base year is always the year
Q63: If the cyclical unemployment rate is negative,then
Q73: Look at the following data: The frictional
Q79: A seamstress who quits her job in
Q83: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6439/.jpg" alt=" -Refer to Exhibit
Q146: Suppose that the price index in 1999