The price indexes that are alternatives to the CPI are ________.
A) unbiased CPI and the unbiased GDP deflator
B) the GDP deflator and the chained price index for consumption
C) the chained price index for consumption and the CPI deflator
D) the core GDP deflator and the CPI deflator
E) the GDP deflator and the CPI deflator
B) the GDP deflator and the chained price index for consumption
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Under what conditions would this level be efficient at the regional level?
Hypothetically, suppose a recent study of hazardous waste abatement (A) arrives at the following national estimates for abating chemical solvents: MSB = 100 – 0.75A and MSC = 20 + 0.50A, where A is measured in millions of tons per year, and costs are measured in millions of dollars.
An inferior good is a good for which the quantity demanded increases as the price decreases, holding everything else constant
Indicate whether the statement is true or false
Assume that the firefighters have gone without a pay increase for 4 years during a tough time in their city's finances. Suppose that things start to look up and the Mayor wants to make up for lost time. If the CPI in 2002 was 125 and 150 in 2006, how much will salaries have to increase to bring the firefighters back up to their real income from 2002?
a. 150.0% b. 125.0% c. 20.0% d. 16.7% e. 25.0%
According to conventional human capital theory, college graduates earn more than high school graduates because
a. college graduates insist on a financial return on their human investments. b. college graduates are made more productive by their greater training. c. jobs that require more education must pay higher wages to attract enough workers. d. All of the above are correct.