The producer price index tracks the prices firms receive for goods and services at all stages of production
Indicate whether the statement is true or false
TRUE
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If an external cost exists, then who bears the external cost in an unregulated competitive market transaction?
A) nobody B) the federal government C) someone other than the producers D) the buyers of the product
The underground economy can be described as
A) production of intermediate goods and services. B) economic production that includes mining. C) production of infrastructure that spurs growth in the rest of the economy. D) economic activity that is hidden from the government to avoid taxes or because the activity is illegal.
According to monetarists, the main cause of change in the level prices are changes in
A. investment spending. B. the money supply. C. government budget deficits. D. taxes.
Which of the following is true?
A. ATC = AVC - AFC B. TVC/Q = TC/Q + TFC/Q C. ?TC/?Q = ?AVC/?Q D. ?TC/?Q = MC