An increase in labor force participation will increase output and living standards at the cost of
a. higher taxes
b. higher interest rates
c. longer work weeks
d. foregone leisure time
e. higher exports
D
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Countries should specialize and import goods in which they have a comparative disadvantage
a. True b. False Indicate whether the statement is true or false
Improvements in the quality of consumer goods and services over time
a. cause inflation as measured by the CPI to overstate the actual inflation rate b. cause inflation as measured by the CPI to understate the actual inflation rate c. are accounted for in the CPI d. are insignificant and thus would not affect the CPI even if accounted for e. improve the accuracy and consistency of the market basket
The US government sets the poverty line equal to approximately
a. three times the cost of providing subsidized housing. b. three times the cost of providing an adequate diet. c. the minimum wage for a single person working 40 hours per week and 50 weeks per year. d. the cost of providing food, shelter, and health care expenses for a family of four.
A structure that combines limited liability with the pass through taxation benefits of a partnership; the bumper of shareholders is not restricted nor is members participation in management
What will be an ideal response?