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Author Question: The graph illustrates the market for British pounds, the currency of the United Kingdom. As the ... (Read 111 times)

james9437

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on: Jun 29, 2018
The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds decreases and the number of sellers of pounds increases, the equilibrium price of a pound
 
  A) will remain the same.
  B) will rise.
  C) will fall
  D) might rise, fall, or remain the same but more information is needed.
  E) will rise if the magnitude of the effect on the buyers is larger than the magnitude of the effect on the sellers.

Question 2

If the CPI this year is 175.2 and next year the CPI is 176.1, what was the inflation rate over the year?
 
  What will be an ideal response?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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gabrielle_lawrence

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

The inflation rate equals 100  (176.1 - 175.2)/(175.2 ) = 0.5 percent.


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