Which of the following is a major category for the Consumer Price Index?
A. capital goods
B. recreation
C. intermediate goods
D. money
Answer: B
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For every choice a person makes it can be assumed that
A) the chooser has full knowledge of the situation. B) some opportunity cost was involved. C) there is a fifty-fifty chance the choice was the wrong one. D) a good is involved and satisfaction is gained.
Social Security is financed:
A. by state income tax revenues. B. by payroll taxes on employees and employers. C. by federal excise taxes. D. out of general tax revenues.
In 1990, there were 50 bilateral agreements and regional trade agreements between countries. Today there are
A. 30 of these agreements. B. more than 230 of these agreements. C. more than 10,000 of these agreements. D. none of these agreements remaining.
If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?
A) p = MC B) MR = MC C) p ? AVC D) All of the above.