Compared to the GDP deflator, the consumer price index measures:
A) the price of all the goods and services produced in the economy.
B) the price of a fixed market basket of goods and services.
C) the price of exported goods and services.
D) the price of wholesale goods and services.
B
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If three cell phone providers are in an agreement, this is an example of a ________ agreement.
A) vertical B) leftward C) horizontal D) rightward
Which of the following statements is true regarding the difference between a monopolist and a perfectly competitive firm?
a. Competitive price is higher than the price charged by a monopolist. b. Supply of output is higher in case of a monopoly than if the market is competitive. c. A monopoly can choose its price while a competitive firm is a price taker. d. A market characterized by competition has a higher deadweight loss.
What is causing South Africa’s youth unemployment problem?
a. Inability to devalue its currency b. High number of laws restricting hiring and firing c. High current account deficit d. Youth lack necessary work skills.
The United States has less income inequality than most other developed countries
a. True b. False Indicate whether the statement is true or false