An index number is valuable because:
A. it does not require any calculations to compute percentage changes.
B. the level of every index number itself provides critical information.
C. it is more stable than the data it reflects.
D. it provides a meaningful measurement scale to calculate percentage changes.
Answer: D
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Federal Express's purchase of trucks and planes
A) is financial capital. B) creates wealth. C) is an example of physical capital. D) reflects capital gains. E) includes depreciation.
Consumer surplus measures the value between the price consumers are willing to pay and the:
a. producer surplus price. b. deadweight gain price. c. actual price paid. d. preference price.
U.S. national defense spending is approximately ____ the amount spent on health care
a. twice b. four times c. ten times d. 1/4
Which of the following could cause the market demand curve for hot dogs to shift to the left?
a. an increase in the price of hot dogs b. a decrease in the price of hamburgers c. an increase in the size of the population d. an increase in the price of hot dog buns or rolls e. an increase in the price of mustard