The consumer price index [CPI] measures price changes at an earlier stage of production than the producer price index [PPI], hence, increases in the CPI are usually followed by increases in the PPI
a. True
b. False
Indicate whether the statement is true or false
False
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According to this Application, tariffs in the United States are very high on textiles, apparel items, and footwear, and within these categories tariffs are highest on the cheapest products
These tariffs disproportionately impact lower-income households because A) only lower-income consumers buy cheap, imported products. B) these cheaper products tend to be purchased by lower-income consumers. C) higher-income consumers can deduct the tariff from their income taxes. D) higher-income consumers tend to refuse to purchase products with tariffs.
The agreement that established a system of fixed exchange rates immediately following World War II is known as the: a. IMF agreement
b. World Bank agreement. c. Bretton Woods agreement. d. none of the above.
The unemployment rate equals the
a. number of employed persons divided by the number of unemployed persons. b. number of unemployed persons divided by the civilian non-institutional population. c. number of unemployed persons divided by the civilian labor force. d. sum of unemployed persons and discouraged workers divided by the civilian labor force.
The wealthy nations of the world have
A. the largest populations. B. more supplies of natural resources. C. more supplies of capital. D. larger labor forces.