超星 - Exercises 2

单选题

To fix the basket for the CPI, the Bureau of Labor Statistics:

A. sets up a committee that decides, based on its own experience, what items will be in the basket
B. reviews the things produced in our economy and selects some of these to include in the basket
C. reviews national expenditure patterns in the economy, and selects a basket that reflects these patterns
D. surveys a large number of consumers to find what they buy, then fixes a basket based on its findings

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单选题

Suppose the cost of the basket in 2005 was $3,300, and the cost of the basket in the base year was $3,000. Find the CPI for 2005.

A. 10
B. 909
C. 110
D. 11

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单选题

Suppose the CPI at the end of 2004 was 150 and the CPI at the end of 2005 was 165. Calculate the inflation rate for 2005.

A. 15%
B. 10%
C. 65%
D. 20%

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单选题

Suppose the cost of the basket in 2005 was $4,200 and the cost of the basket in the base year was $4,000.

A. The CPI for 2005 is 105
B. The inflation rate for 2005 was 5%
C. The inflation rate for 2004 was 5%
D. We cannot discern anything from the data provided

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单选题

Suppose the cost of the basket at the end of 2002 was $5,500, and at the end of 2003 it was $5,775. If the cost of the basket in the base year was $1,000, find the inflation rate for 2003.

A. 27.5%
B. 25.0%
C. 10.0%
D. 5.0%

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单选题

All of the following cause the CPI to measure more inflation than there really is, EXCEPT:

A. substitution bias
B. introduction of new goods
C. unmeasured quality change
D. the steady increase in the number of consumers

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单选题

Suppose the price of fish increases, so households now buy less fish and more chicken. This will cause the:

A. CPI to measure more inflation than there really is
B. CPI to measure less inflation than there really is.
C. PPI to measure less inflation than there really is
D. GDP deflator to measure less inflation than there really is

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单选题

Which of the following statements is true？

A. The GDP deflator considers only a basket of goods, while the CPI considers everything produced
B. The GDP deflator includes imports, while the CPI does not
C. The GDP deflator uses a fixed bundle of goods, while the CPI uses a changing bundle of goods
D. The GDP deflator measures the inflation of everything produced in the nation, while the CPI measures the inflation of the goods typically bought by households

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单选题

If John earned $30,000 in 1990, how much would that be worth in today's dollars? Suppose the CPI was 160 in 1990 and is 220 today.

A. $21,810
B. $50,000
C. $41,250
D. $11,250

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单选题

Suppose today’s CPI is 134.85, and today one must spend $580 to purchase the same basket of goods and services that could be bought for $400 in 1989. Then the CPI in 1989 was

A. 68.97.
B. 89.00.
C. 93.00.
D. 101.85.

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