The Bureau of Labor Statistics' household survey and establishment survey both yield information about unemployment
a. True
b. False
Indicate whether the statement is true or false
False
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If the CPI is 120 in 1996 and 180 in 2002, then between 1996 and 2002, prices have increased by
A) 180%. B) 80%. C) 60%. D) 50%.
Everything else held constant, a decrease in government spending ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Suppose a market is initially competitive with many firms selling an identical product. Over time, however, suppose the merging of firms results in the market being served by only three or four firms selling this same product. As a result, we would expect
a. an increase in market output and an increase in the price of the product. b. an increase in market output and an decrease in the price of the product. c. a decrease in market output and an increase in the price of the product. d. a decrease in market output and a decrease in the price of the product.
If an average cost curve is U-shaped, then:
a. costs per unit remainconstant throughout the entire range of production. b. costs per unit fall throughout the entire range of production. c. costs per unit increase throughout the entire range of production. d. costs per unit first rise, then reach a maximum, and then begin to fall as output is increased. e. costs per unit first fall, then reach a minimum, and then increase as output is increased.