If the average price of a barrel of oil was $35 in 1990, when the CPI was 114.7 and $55 in 2019 when the CPI was 229.6, then the real cost of a barrel of oil
A) rose by 20 per cent during that period.
B) rose by 57 per cent during that period.
C) rose by 75.7 per cent during that period.
D) fell by 57 per cent during that period.
E) fell by 157 per cent during that period.
Correct Answer:
Verified
Q42: The price of dishwashers has remained relatively
Q43: Real GDP is $140 billion and nominal
Q44: In order to determine if the quantity
Q45: The difference between nominal and real is
A)
Q46: To compare the price of a loaf
Q48: If nominal GDP is $200 billion and
Q49: In Australia between 1997and 2018, the
A) real
Q50: The core inflation rate is
A) the annual
Q51: In 2012, Cameron began his career with
Q52: Suppose Mack's wage was $7.00 an hour
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents