Given the Consumer Price Index for 2020 is 120.6. What does this number mean?Select one:O A. On average prices increased 120.6 per cent over the base year.OB. The average cost of one item is RM120.60 in 2020.Oc. On average prices increased by 20.6 percent compared to 2019.O D. On average prices increased by 20.6 percent from the base year.Which of the following will NOT cause the country's AD curve to shift to the left?Select one:O A. Rising price levelsOB. Tax increaseOC. Reduction of government transfersO D. Reduction of exportsABC national labor market data for 2019 are as follows:Labor force: 160 millionEmployment: 152 millionWorking age population: 254 million.What is the ratio of employment to working age population in ABC country?Select one:OA59.8 percentOB.95.0 percentOC5.0 percentO D. 63.0 per cent If the inflation rate is 8 percent and the real interest rate is 3 percent, what is the nominal interest rate?Select one:OA. 24 percentOB. 10 percentOC11 percentOD.5 percentIf the total labor force is 5 million people but only 4.5 million people are employed, what is the rateunemployment?Select one:OA 90 percentOB.100 percentOC5 percentOD. 10 percent

Economics Economics refers to social science concerned with the distribution, production, and…

Given the Consumer Price Index for 2020 is 120.6. What does this number mean? Select one: O A. On average prices increased 120.6 per cent over the base year. OB. The average cost of one item is RM120.60 in 2020. OC. On average prices increased by 20.6 percent compared to 2019. O D. On average prices increased by 20.6 percent from the base year.

Given the Consumer Price Index for 2020 is 120.6. What does this number mean? Select one: O A. On average prices increased 120.6 per cent over the base year. OB. The average cost of one item is RM120.60 in 2020. OC. On average prices increased by 20.6 percent compared to 2019. O D. On average prices increased by 20.6 percent from the base year.

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter24: Measuring The Cost Of Living

Section: Chapter Questions

Problem 3PA

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