Which of the following is consistent with a rise in a nominal variable?

Select one:

a.An increase in quantity and a decrease in price.

b.A decrease in quantity and an increase in price.

c.An increase in quantity and price.

d.All of the above.

Using the following data, what is the percentage change in the quantity of goods sold in manufacturing between 2009 and 2010?

2009 2010

Nominal manufacturing sales $60m $80m

Real manufacturing sales $80m $80m

Select one:

a.-25%

b.0%

c.25%

d.33%

The March 2015 value for the CPI was 1193. What can we conclude from this?

Select one:

a.The CPI overstates inflation because it is calculated using a base-weighted or Laspeyres index formula.

b.If the expression base is 1000 then the price level has risen 19.3 percent since the base period.

c.The annual rate of inflation is greater than zero.

d.The New Zealand price level is higher than the Australian price level.