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Unformatted text preview: A. Simpleland experienced inflation in 2006 and deflation in 2007. ** B. Prices in Simpleland rose by about 12 percent between 2005 and 2007. C. Simpleland experienced a large rate of inflation in 2006 and a small rate of inflation in 2007. D. Prices in Simpleland rose by 2 percent between 2005 and 2007. 4. If Babe Ruth earned $80,000 in 1930 and Barry Bonds earned $15.5 million in 2007 and if the CPI in 1930 was 16.8 and the CPI in 2001 was 208.3, then A. Babe Ruth had a higher standard of living than Barry Bonds. B. Barry Bonds had a higher standard of living than Babe Ruth. ** C. Babe Ruth experienced more inflation than Barry Bonds. D. Barry Bonds experienced more inflation than Babe Ruth....
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This note was uploaded on 07/28/2008 for the course ECON 101 taught by Professor Balaban during the Spring '07 term at UNC.
- Spring '07