Which of the following is a major category for the Consumer Price Index?
A. unsold goods
B. intermediate goods
C. housing
D. capital goods
Answer: C
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If the U.S. economy enters a recession, the
A) labor force tends to increase. B) economy experiences full employment. C) unemployment rate tends to increase. D) entire population will be partially unemployed.
Moral hazard and adverse selection are the result of
A) poorly functioning markets. B) government intervention. C) private information. D) treachery.
"Non-market-clearing" approaches to macroeconomics include
A) the original Keynesian model, but not the New Keynesian model. B) the New Keynesian model, but not the original Keynesian model. C) the original and New Keynesian models. D) neither the original nor the new Keynesian models.
When looking at this graph for the welfare effects of a subsidy, the location of the supply curve above the demand curve for each unit produced between Q1 and Q2 ______.
a. prevents the producers from being able to make enough goods to meet demand b. prevents the development of a deadweight loss associated with the subsidy c. shows that the cost of producing those units is lower than the marginal benefits to consumers d. shows that the marginal benefits to consumers are less than society’s cost of producing those units