Multiple Choice
Use the table below to answer the following questions.
Table 21.3.1
Suppose a simple economy produces three goods only.
The price and output data for some selected years are shown below.
-Refer to Table 21.3.1.The reference base period is 2002.Which one of the following statements is true?
A) From 2002 to 2012, the cost of the market basket rose by 58 percent.
B) It costs 158 times more in 2012 than it does in 2002 to buy the same market basket.
C) All prices have risen by the same amount.
D) The inflation rate in 2012 is greater than the inflation rate in 2002.
E) The inflation rate in 2002 is greater than the inflation rate in 2012.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Choose the incorrect statement.<br>A)The outlet substitution bias
Q28: Use the table below to answer the
Q28: Frictional unemployment _.<br>A)includes discouraged workers<br>B)is voluntary part-time
Q29: If the CPI was 180 at the
Q31: People become unemployed when they<br>A)retire.<br>B)are on maternity
Q34: All of the following are possible sources
Q37: Use the table below to answer the
Q64: The price indexes that are alternatives to
Q73: The employment-to-population ratio is<br>A)the percentage of the
Q85: If there is a 5 percent increase