"The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type of statement is this?
a. normative
b. negative
c. positive
d. subjective
e. biased
C
You might also like to view...
Which of the following shifts the demand for money curve?
i. change in the nominal interest rate ii. change in real GDP iii. change in the price level A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
Economic bads are items
A) for which the produced quantity is less than the amount desired at a positive price. B) for which the desired quantity is less than what nature provides at a zero price. C) that individuals desire but which receive social disapproval. D) that receive social approval but which governments dislike.
If purchasing power parity holds between the U.S. and China:
A. the real exchange rate must be 1. B. the nominal exchange rate must be 1. C. the U.S. must no longer have a trade deficit. D. China must no longer have a trade deficit.
If the supply of health-care services is highly inelastic and larger government subsidies lead to an increase in the demand for the services,
a. the prices of health-care services will rise by only a small amount, but the quantity supplied will increase substantially. b. the prices of health-care services will rise substantially, but the quantity supplied will increase by only a small amount. c. both health-care prices and the quantity of the services supplied will increase substantially. d. the prices of health-care services will decline, but there will be only a small change in the quantity supplied.