Question

1. What is the Consumer Price Index? 2. Who was the first U.S. President to adopt...

1. What is the Consumer Price Index?

2. Who was the first U.S. President to adopt The Laffer Curve?

3. Which U.K. Prime Minister used the Phillips Curve?

4. True or False. Increasing gas prices and minimum wage are both inflationary.

5. True of False. Economics is a social science.

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Answer #1

Cpi:it is the measures to calculate the changes in the price level of a weighted average market basket of consumer goods and services, which is purchased by houshold for final consumption.

Ronald Reagan was first us President to accept laffer curve.

Harold Macmillan adopted Phillips curve.

True

Both of these caused inflation as one is cost pulled inflation and other is demand pull inflation.

True

it's is social sciences as it is basee upon individual organization and group behavior about demand and supply of things as well as their use and build Theory and model based upon them.

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