Answer:
1. Inflation is best described as _____.
- an upward, general trend of prices in the economy
2. Which of the following scenarios illustrates cost-push inflation?
- An increase in the price of raw materials decreases aggregate supply, pushing prices higher throughout the economy.
3. The Consumer Price Index in 2018 was 251. In 2019, the CPI rose to 257. Calculate the inflation rate from 2018 to 2019. Round your answer to the nearest tenth of a percent.
- 2.4%
4. The Consumer Price Index of any given year provides _____.
- the relative price of a basket of consumer goods as compared to base year prices
5. The rate of inflation in a hypothetical economy is projected to be 1.5% in the coming quarter. Given this information, the Federal Reserve is likely to _____.
- make efforts to raise the inflation rate because 1.5% is below the desired rate of inflation
Explanation:
Mark me braliest
These are 100% correct
Answer:
False
Explanation:
Purchasing power is related to real income and not to nominal income. Even though workers had a $10 increase in their average nominal income, due to the effects of inflation, that increase does not necessarily reflect an improve in purchasing power.
The statement is false.
If you are given a point and the slope, use the point-slope formula.
m = 2/3
(x₁, y₁) = (-6, 3)
y - y₁ = m(x - x₁)
y - 3 = 2/3(x + 6)
y - 3 = 2/3x + 12/3
y - 3 = 2/3x + 4
y = 2/3x + 1
The equation of the line is y = 2/3x + 1.
Answer:
A) The Heckscher-Ohlin model offers a reasonable explanation of the pattern of trade and the gains from trade.
Explanation:
A) The Heckscher-Ohlin model mentions that some countries have capital products and some have labor work products. In that condition some countries might be producing capital products like cars and mobile phones however these countries might have less labor work products like agricultural products so that they can not produce enough food. In that sense there is a trade that occurs between two countries one having a capital like a car and others having a high food production so the trade gets balance thanks to this import and export of products. Basically, each country exports its products that they are leading whether it has capital good or labor work good and imports goods that they are lack of it whether it is capital or labor work products. Well, gains from trade happens thanks to this exchange.
B) No, the Heckscher-Ohlin model offers a pattern of trade between two countries according to capital goods and labor work products.
C) No, the Heckscher-Ohlin model explains the gain. Possible to gain from your goods. If a country produces capital good then gains from that or produce labor work good then gains from it by export to other countries that they have lack of that good.
D) The Ricardian trade model focuses only on labor work goods but Heckscher-Ohlin states that trade based on labor work goods and capital goods.