Assume that the typical consumer buys 60 gallons of gas and 4 gallons of milk each month, and that Aprilis the base period.MonthPrice of GasPrice of MilkApril$2.00$3.50May$3.50$3.25June$3.85$3.58Refer to Table 24-9. What is the inflation rate for May?a.66.4%b.60.1%c.-4.1%d.10%10.Henri earned a salary of $50,000 in 2001 and $60,000 in 2012. The consumer price index was 177 in 2001 and 225 in 2012. Henri's 2001 salary in 2012 dollars is
1.D2.B3.C4.C5.D6.C7.B8.B9.A10. DChapter 121.Last year real GDP per person in the imaginary nation of Olympus was 4,250. Theyear before it was 4,100. By about what percentage did Olympian real GDP per person grow during the period?2.In 2010, the imaginary nation of Mainland had a population of 6,000 and real GDP of 120,000. In 2011 the population was 6,200 and real GDP of 128,960. Overthe year in question, real GDP per person in Mainland grew by3.Country A experienced a growth rate of real GDP per person of 2.5 percent per year throughout the 1900’s. In view of other countries’ experiences during this time country A’s growth wasa.exceptionally high b.moderately high c.moderately low d.exceptionally low4.The real rate of economic growth
5.Phoenix furniture uses 12 workers, each working eight hours, to produce 192 rocking chairs. What is Phoenix’s productivity?
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