The more money an average household spends on one specific type of good or service per month, the
A) smaller the relative importance of that item in the CPI market basket.
B) larger the relative importance of that item in the CPI market basket.
C) costlier it will be to conduct the Consumer Expenditure Survey.
D) less significant an increase in the price of that good or service will be for the household.
E) more frequently its price is checked when calculating the CPI.
B
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Whether a company produces fishing rods mostly by hand or using high-tech machinery is a question of
A) "When will the goods be produced?" B) "For whom will goods be produced?" C) "How will the goods be produced?" D) "Why will the goods be produced?" E) "Where will the goods be produced?"
If x increases whenever y decreases, then x and y are
A) not related. B) positively related. C) directly related. D) negatively related. E) related but whether positively or negatively related depends on whether the x variable or the y variable is plotted on the vertical axis.
Leontief explained his findings by arguing that U.S. labor is more efficient than their foreign counterparts
Indicate whether the statement is true or false
Personal income and property taxes paid by individuals are not included in the income approach of gross domestic product calculation
a. True b. False Indicate whether the statement is true or false