Which of the following statements about the CPI and the GDP deflator is TRUE?
A. The CPI measures the price level; the GDP deflator measures the production of an economy.
B. The CPI refers to a base year; the GDP deflator always refers to the current year.
C. The weights given to prices are not the same.
D. The GDP deflator takes the price of imported goods into account; the CPI does not.
Ans: C. The weights given to prices are not the same.
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A) Brand management B) Product differentiation C) Advertising D) Aggressive marketing
Firms A and B are identical, produce identical products, and are the only firms in a market. Firm A's output is higher than Firm B's. This means that Firm B is the
A) Cartel leader. B) Stackelberg leader. C) Stackelberg follower. D) Cournot leader.
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a. If the two types are complements, then the increases in immigration during the late 1800s would have increased the quantity and wages of skilled workers and decreased the wages of unskilled workers. b. If the two types are substitutes, then the increases in immigration during the late 1800s would have increased the quantity and wages of skilled workers and decreased the wages of unskilled workers. c. If the two types are complements, then the increases in immigration during the late 1800s would have increased wages of skilled workers, decreased the number of skilled workers, and decreased the wages of unskilled workers.
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a. Compensation per dollar of profit of the company b. Compensation per dollar of profit of the division c. Compensation per piece a worker produces d. Compensation per dollar of sales