Author Question: If the inflation rate for a given year is 5 percent, then 1.00 in the previous year will buy goods ... (Read 80 times)

acc299 · **on:** Jun 30, 2018

If the inflation rate for a given year is 5 percent, then 1.00 in the previous year will buy goods worth approximately 0.95 this year.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following statements most likely lies within the realm of macroeconomics?
a. An increase in the price of automobiles will lead to a decrease in the quantity of automobiles demanded.
b. Due to process innovations in computer chip manufacturing, the market supply of computers increased.
c. Due to an economic recession, manufacturing firms began implementing layoffs of their workforces.
d. Anticipating that the benefits would outweigh costs involved, an undergraduate student purchases the course textbook.