ECO202HBF13MT1Key

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Unformatted text preview: itsinventoryattheendofthefourth quarterissmallerthanthevalueofitsinventoryattheendofthethirdquarter.These actionsaffectwhichcomponent(s)offourth ­quarterGDP? a. Theseactionsaffectonlyconsumption,andtheyaffectconsumptionpositively. b. Theseactionsaffectonlyinvestment,andtheyaffectinvestmentpositively. c. Theseactionsaffectconsumptionpositivelyandinvestmentnegatively. d. Theseactionsaffectbothconsumptionandinvestmentpositively. Answer:C 18. Supposetoday’sCPIis134.85,andsupposeonemustspend$580todaytopurchasethesame basketofgoodsandservicesthatcouldbeboughtfor$400in1989.ThentheCPIin1989 was a. 24.27 b. 60.68 c. 93.00 d. 195.53 Answer:C   19. Inanimaginaryeconomy,consumersbuyonlysandwichesandmagazines.Thefixedbasket consistsof10sandwichesand6magazines.Asandwichcosts...
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