Which of the following indexes is best suited to measure wage inflation?
a. The Producer Price Index
b. The International Price Index
c. The Employment Cost Index
d. The Personal Consumption Expenditure Index
c
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How would the Fed's sale of government bonds on the open market affect the money supply?
What will be an ideal response?
Suppose a company trying to increase profits, markets its laptops at a price that is higher than the equilibrium price of laptops in the market. Which of the following is likely to happen as a consequence?
a. The equilibrium price of laptops will increase to the level charged by this brand. b. There will be an excess supply of this particular brand of laptops in the market. c. There will be an excess demand for this particular brand of laptops in the market. d. The equilibrium price of laptops will decrease.
The market clearing price of corn has just increased. Which of the following could have caused this change?
A) a reduction in demand B) a reduction in supply C) an increase in quantity demanded D) an increase in quantity supplied
In an increasing-cost industry, an increase in industry output will
A) lead to a higher market price. B) lead to a lower market price. C) shift each firm's average fixed cost curve down. D) shift each firm's short run supply curve down.