Author Question: If a the price index was 60 in 2000 and the price index was 90 in 2009, the best estimate of the ... (Read 55 times)

APUS57 · **on:** Jun 30, 2018

If a the price index was 60 in 2000 and the price index was 90 in 2009, the best estimate of the annual inflation rate between 1998 and 1999 is:
a. 15.
b. 40.
c. 50.
d. 90.
e. 7/5.

Question 2

What best describes the impact of a price ceiling in a competitive market?
a. This benefits all consumers because they are able to obtain the good for a lower price.
b. The quantity supplied will be in excess of the quantity demanded.
c. It will likely lead to consumers waiting in line for longer periods of time to buy the good.
d. It will benefit both consumers and producers of the good.

rleezy04 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

c. 50.

Answer to Question 2

c. It will likely lead to consumers waiting in line for longer periods of time to buy the good.