A decrease in the availability of raw materials that increases the price level is called a ________ shock
A) negative demand
B) positive demand
C) negative supply
D) positive supply
C
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Suppose that Year 2 is the base year. The CPI for Year 1 is approximately
A) 80.0. B) 90.0. C) 100.0. D) 120.0.
The definition of a job leaver is an individual
A) who terminates his job voluntarily in order to work for a family business. B) whose employment was terminated involuntarily. C) who competed for a promotion at his company and did not get it. D) who is underemployed.
As the price of cookies increases, firms that produce cookies will:
A. increase the supply of cookies. B. increase the quantity of cookies supplied. C. decrease the quantity of cookies supplied. D. decrease the supply of cookies.
Which are not generally considered to be complementary goods?
a. Beef and chicken b. Razors and razor blades c. Gasoline and motor oil d. Beer and pretzels