Which of the following goods is NOT a likely component of the Consumer Price Index?
A) Hamburger
B) 87 octane gasoline
C) Structural steel beams
D) Movie tickets
C
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What does it mean when the CPI is higher this year than last?
A) The rate of inflation has increased. B) There has been inflation since last year. C) Real prices have increased. D) Real prices have decreased.
One of the main difficulties with implementing fiscal policy is:
A. the time lag between the time the policy is chosen and the time it gets enacted. B. deciding on a policy without all the relevant information. C. the danger in overshooting or undershooting the goal of full employment. D. All of these are true.
What effect does new technology usually have on an economy?
What will be an ideal response?
U.S. exports represent two flows:
A. An outflow of goods or services, and an outflow of payments B. An inflow of goods or services, and an outflow of payments C. An outflow of goods or services, and an inflow of payments D. An inflow of goods or services, and an inflow of payments