Suppose hypothetically that the consumer price index (CPI) was ...

[joesmith1212]

Suppose hypothetically that the consumer price index (CPI) was 150 in Year 1 and was 180 in Year 2 . What would be the inflation rate for this period?
 a. 12 percent.
  b. 16.7 percent.
  c. 20 percent.
  d. 30 percent.

Question 2

Which economist(s) argued that high tax rates produce less tax revenues and limit the expansion of real GDP and employment?
 a. Robert Lucas and Thomas Sargent
  b. A. W. Phillips
  c. Robert Barro
  d. Paul Samuelson
  e. Arthur LafferF

[Andromeda18]

Answer to Question 1

c

Answer to Question 2

e