Which government agency compiles the consumer price index?
A. the Government Accounting Office
B. the Bureau of Labor Statistics
C. the Congressional Budget Office
D. It is not compiled by a government agency, but rather by an independent research institution called the Conference Board.
Answer: B
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Which of the following statements represents a correct and sequentially accurate economic explanation?
A) Good X is an inferior good and good Y is a substitute for X. Income rises, the demand for X falls, the price of X falls, and the demand for Y rises. B) Good X is an inferior good and good Y is a substitute for X. Income rises, the demand for X falls, the price of X falls, and the demand for Y falls. C) Good X is an inferior good and good Y is a substitute for X. Income falls, the demand for X rises, the price of X rises, and the demand for Y falls. D) Good X is an inferior good and good Y is a substitute for X. Income rises, the quantity demanded of X rises, the price of X rises, and the demand for Y falls. E) none of the above
A landlord requiring potential tenants to provide a rental history is an example of:
A. signaling. B. building a reputation. C. screening. D. statistical discrimination.
According to your authors, which action below clearly restricts competition?
A) A large firm raises its price. B) A large firm lowers its price. C) Government deregulates an industry. D) Antitrust legislation restricting other suppliers from entering into a market.
Which of the following macroeconomic variables is countercyclical?
A) Real interest rates B) Unemployment C) Money growth D) Consumption