EC201 chapter_7_Quiz Full

B 100 c 3333 d 60 answer a diff2 topic inflation skill

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Unformatted text preview: Diff: 3 Topic: Inflation Skill: Analytic AACSB: Analytic Skills 30) If the price index in 2007 is 115 and the price index in 2008 is 102, the rate of inflation between 2007 and 2008 is A) 12.7%. B) -11.3%. C) -13.0%. D) 13.0%. Answer: B Diff: 2 Topic: Inflation Skill: Analytic AACSB: Analytic Skills 31) The index used most often to measure inflation is the A) producer price index. B) consumer price index. C) wholesale price index. D) GDP deflator. Answer: B Diff: 1 Topic: Inflation Skill: Fact 32) If the CPI in 2007 was 114.7 and the CPI in 2008 was 124.5, then the rate of inflation between 2007 and 2008 was A) 9.8%. B) 8.5%. C) 7.9%. D) 14.7%. Answer: B Diff: 2 Topic: Inflation Skill: Analytic AACSB: Analytic Skills 33) If the CPI in 2007 was 104 and the CPI in 2008 was 106, then the rate of inflation between 2007 and 2008 was A) 2.0%. B) 1.92%. C) 1.89%. D) 2.2%. Answer: B Diff: 2 Topic: Inflation Skill: Analytic AACSB: Analytic Skills 34) If the CPI 1 is 180 and the CPI in period 2 is 240, then the rate of inflation between period 1 and period 2 is in period A) 66.7%. B) 25%. C) 33.33%. D) 50%. A...
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