The Price of a Given Basket of Goods in Year

question 95

Multiple Choice

The price of a given basket of goods in Year 1 was $1,300.The price of the same basket of goods in Year 2 was $1,560.Taking Year 1 as the base year,the Consumer Price Index for Year 2 is ________.

• A) 101
• B) 120
• C) 156
• D) 100

Analyze the costs and effects of tariffs and quotas on international trade.

Examine the major imports and exports of the United States and their significance in global trade.

Discuss different production resource intensities and provide examples.

Compare the effectiveness of tariffs and quotas in blocking imports.