Author Question: Suppose the consumer price index (CPI) for Year X is 130 . This means the average price of goods and ... (Read 110 times)

shofmannx20 · **on:** Jun 30, 2018

Suppose the consumer price index (CPI) for Year X is 130 . This means the average price of goods and services is:
a. currently 130.
b. 130 percent more in Year X than in the base year.
c. 130 percent more in the base year than in Year X.
d. priced at 30 percent more in Year X than in the base year.

Question 2

The Laffer curve is a graph of the relationship between tax rates and:
a. real GDP.
b. total tax revenues.
c. government spending.
d. inflation.