home assignments in Chapter 17 Inflation

home assignments in Chapter 17 Inflation - Chapter 17...

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Chapter 17 Inflation Multiple Choice Questions: 1. The measure of the cost of a standard basket of goods and services in any period relative to the cost of the same basket of goods and services in the base year is called the: A. cost-of-living indicator. B. consumption production index. C. consumer production index. D. consumer price index. 2. The consumer price index for the current year measures the cost of a standard basket in the _____ year relative to the cost of the same basket in the ______ year. A. current; base B. current; current C. base; index D. base; current 3. The CPI is a measure of the: A. real wage. B. price of a specific good or service. C. rate of inflation. D. average level of prices relative to prices in the base year. 4. Suppose that the total expenditures for a typical household in 2000 equaled $2,500 per month, while the cost of purchasing exactly the same items in 2005 was $3,000. If 2000 is the base year, the CPI for 2000 equals: A. 0.83 B. 1.00 C. 1.20 D. 1.25 5. Suppose that the total expenditures for a typical household in 2000 equaled $5,500 per month, while the cost of purchasing exactly the same items in 2005 was $6,875. If 2000 is the base year, the CPI for the year 2005 equals: A. 0.80 B. 1.00 C. 1.20 D. 1.25
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6. If the total expenditures of a typical family equaled $35,000 per year in 2000 and
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This note was uploaded on 04/09/2012 for the course MACROECONO 100 taught by Professor Py during the Spring '12 term at Alabama A&M University.

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home assignments in Chapter 17 Inflation - Chapter 17...

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