Referring to Figure 19.2, the effect of a decrease in Japanese prices is represented by a movement from point
A) d to a. B) d to c. C) c to d. D) c to b.
Question 2
In 1995, the CPI was 152.5 and the price of an economics textbook was 70.00 and a music CD was 16.00. If the CPI was 172.3 in 2011, what were the prices of the economics textbook and the music CD in 2011 dollars?
What will be an ideal response?