Product-specific services are most likely to be valuable for which of the following goods?
A) a box of 50 legal notepads
B) a box of paper clips
C) a stapler
D) an office copying machine
D) an office copying machine
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You are studying with a friend and your friend says "A budget line shows the various combinations of two goods that can be purchased with the buyer's income at current prices." Is your friend's assessment correct or not?
What will be an ideal response?
If total spending is greater than current output, GDP will rise.
Answer the following statement true (T) or false (F)
The Core Personal Consumption Expenditures Index
A. strips out the cost of food and energy from the PCE. B. also includes producer prices (like the cost of iron ore). C. only includes food and energy. D. includes all goods and services people buy (not just what "average" people buy).
The deep recession of 1973-1975 was mainly caused by
A. higher oil prices. B. slower money growth. C. flawed technology that caused a drop in TFP. D. an unexplained drop in business optimism.