The most commonly used price index to track changes in prices for the typical household in the U.S. is:
A. consumer price index.
B. average price index.
C. retail price index.
D. producer price index.
A. consumer price index.
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For the first time in U.S. history, the federal government assumed responsibility for managing unemployment during the Great Depression
Indicate whether the statement is true or false
An auto-insurance company introduces an anti-theft device that records how well the customer has secured his car. If the driver locks his car with the monitored lock every day, the rates go down. The company is trying to solve a __________problem
a. Adverse selection b. Moral hazard c. Forced bankruptcy d. None of the above
The cost of a choice is
A) the price of the product selected. B) the price of the product not selected. C) the next best opportunity. D) all of the opportunities given up.
If labor is the only variable input, a firm's labor demand curve is
a. labor's marginal product curve b. the upward-sloping portion of its marginal revenue product of labor curve c. the downward-sloping portion of its marginal revenue product of labor curve d. the marginal revenue product of labor curve above the reservation wage rate e. the marginal revenue product of labor curve above the average variable cost curve