To compute a monthly consumer price index, we need
A) data about consumption habits in every month.
B) data about item prices every month.
C) fixed exchange rates.
D) the GDP or GNP deflator.
B
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The actual unemployment rate exceeds the natural rate of unemployment. What are policymakers concerned about in this situation?
What will be an ideal response?
If the demand for a good is price elastic, then the price elasticity will be
a. equal to one b. equal to zero c. greater than one d. less than one e. less than zero
An example of human capital would be:
A. your writing skills. B. your desk. C. your computer. D. None of these is an example of human capital.
Which of the following is NOT an example of a way that the government interferes in the economy?
A. Local governments impose building codes on newly constructed office buildings or factories. B. The government tells Apple what kind of phones chips to make. C. The government requires everyone to get an elementary and high school education. D. The government sets laws and rules for how mortgages are issued.