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Author Question: If the CPI changes from 125 to 120 between 2015 and 2016, how did prices change between 2015 and ... (Read 112 times)

clippers!

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on: Jun 29, 2018
If the CPI changes from 125 to 120 between 2015 and 2016, how did prices change between 2015 and 2016?
 
  A) Prices increased by 25. B) Prices decreased by 5
  C) Prices decreased by 4. D) Prices increased by 5.

Question 2

Suppose that a local government decides to provide more funds to the local police department in order for the department to hire additional police officers. Is there an opportunity cost of this action? If so, how would you measure it?
 
  What will be an ideal response?


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frogdreck123456

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

C

Answer to Question 2

Yes, there is an opportunity cost. The opportunity cost should be measured by the next best alternative use of the funds provided to the police department.


clippers!

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

ghepp

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Reply 3 on: Yesterday
Excellent

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