The BLS has recently made explicit adjustments in its CPI calculations to control for
A. purchase location adjustments.
B. consumer electronics quality improvement issue.
C. substitution between goods.
D. food safety quality issues.
Answer: B
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A firm would find it profitable to increase its production when
a. its marginal revenue exceeds its marginal cost. b. its fixed costs decrease. c. higher resource costs raise its marginal costs. d. new competitors reduce the demand for the firm's product.
Positive analysis:
A. determines whether the consequences of a policy are desirable. B. recommends whether a policy should be implemented. C. aims at determining only the economic consequences of a particular policy. D. depends on the analyst's values.
Which of the following is TRUE?
A) Real and nominal values are not related. B) Real standards of living can increase without any positive economic growth. C) Real standards of living decrease with positive economic growth. D) Real growth rates fail to account for by price level changes.
Suppose Acme County Bank and Trust has $1 million in total deposits and the required reserve ratio is 10%. How many dollars is Acme allowed to use to seek profits?
A) 0 B) $100,000 C) $900,000 D) $1 million E) $10 million