If the price of a typical market basket of goods increased from about $20 in 1960 to $200 in early 2012,then it:
A) must not have contained the same goods in both periods.
B) rose at a rate of 100% from 1960 until early 2012.
C) rose at a rate of 10% per year from 1960 until early 2012.
D) rose by 10-fold from 1960 until early 2012.
E) rose by 40-fold from 1960 until early 2012.
Correct Answer:
Verified
Q157: Explain two shortcomings of using the official
Q174: The percentage change in any economic variable,including
Q175: Refer to the following table to answer
Q176: Consider a nation in which the price
Q177: Quality changes are:
A) easily accounted for in
Q178: Refer to the following table to answer
Q180: Let's say a company invents a very
Q181: What happened to the labor-force participation rate
Q182: NOT: a. The unemployment rate is calculated
Q184: A student had the following expenditures last
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