Question : 81) The CPI for 2012 was 121 and for 2013 : 1228273

 

 

81) The CPI for 2012 was 121 and for 2013 was 132. What was the inflation rate between 2012 and 2013?

A) 9.09 percent

B) 11 percent

C) 10 percent

D) 8.3 percent

E) 121.0 percent

 

82) Looking at the annual inflation rates in the United States from 2000 to 2011, we see that they

A) were above 10 percent throughout the period.

B) were at or below 5 percent throughout the period and was negative for a year.

C) started low, but increased to over 9 percent by the end of the period.

D) started out above 10 percent but fell to 5 percent by the end of the period.

E) were negative for most of the years during this period.

83) In the United States between 1971 and 2011, the inflation rate

A) increased every year.

B) only decreased during the late 1990s.

C) only increased during the late 1970s and 1980.

D) peaked during the late 1970s and 1980 and was at its generally lowest in the 1990s and 2000s.

E) has been relatively constant at approximately 4 percent to 6 percent per year.

 

84) Since 1305, of the following centuries the inflation rate has been the highest during the

A) 17th century.

B) 16th century.

C) 20th century.

D) 14th century.

E) 15th century.

 

85) If we look back at inflation data since 1300, we see that

A) during the 20th century we have finally solved the problem of high inflation.

B) the Industrial Revolution caused the highest inflation rates.

C) the discovery of America caused prices to fall drastically.

D) inflation has been highest in the 20th and 21st centuries.

E) the most rapid inflation occurred prior to 1600.

 

86) According to the historical record of inflation since the 1300s, the inflation rate

A) became highest in the twentieth century.

B) was at its lowest after Columbus arrived to America.

C) was at its highest during the Industrial Revolution.

D) has always been consistently high.

E) was higher in the 1300s than in the 1900s.

87) Since 1300, the inflation rate has been greater than 2 percent per year and reaching its highest peaks

A) primarily before 1400.

B) primarily between 1400 and 1500.

C) primarily between 1500 and 1700.

D) primarily between 1700 and 1900.

E) primarily after 1900.

 

88) The Consumer Price Index (CPI) measures

A) the prices of a few consumer goods and services.

B) the prices of those consumer goods and services that increased in price.

C) the average of the prices paid by urban consumers for a fixed market basket of goods and services.

D) consumer confidence in the economy.

E) the average of the costs paid by businesses to produce a fixed market basket of consumer goods and services.

 

89) The CPI is reported once every

A) year.

B) quarter.

C) month.

D) week.

E) other year.

90) If a country had a CPI of 105.0 last year and a CPI of 102.0 this year, then

A) the average prices of goods and services increased between last year and this year.

B) the average prices of goods and services decreased between last year and this year.

C) the average quality of goods and services decreased between last year and this year.

D) there was an error when calculating the CPI this year.

E) the quantity of consumer goods and services produced decreased between last year and this year.

 

91) The period for which the Consumer Price Index is defined to equal 100 is called the

A) reference base period.

B) base period.

C) starting point.

D) zero period.

E) beginning period.

 

92) In the United States, the good or service given the most weight in the CPI basket when calculating the CPI is

A) food and beverages.

B) taxes.

C) housing.

D) medical care.

E) recreation.

93) Suppose the market basket of consumer goods and services costs $180 using the base period prices, and the same basket of goods and services costs $300 using the current period prices. The CPI for the current year period equals

A) 166.7.

B) 66.7.

C) 160.0.

D) 60.0.

E) 300.0.

 

94) Suppose the CPI last year was 82.3 and this year is 90.9. Based on this information, we can calculate that the inflation rate in 1981 was

A) 10.4 percent.

B) 8.6 percent.

C) 90.9 percent.

D) 82.3 percent.

E) 9.09 percent.

 

95) In the United States, the inflation rate since 1999 generally was

A) higher than between 1979 to 1981.

B) higher than in the 1980s.

C) lower than between 1979 to 1981.

D) much higher than between 1985 to 1995.

E) negative.