The Consumer Price Index market basket contains
A) the goods and services that the economists working for the BLS believes consumers should buy.
B) the U.S.-produced goods and services purchased by an average urban household.
C) the minimal dietary requirements of an average urban household.
D) the goods and services purchased by an average urban household.
E) the ideal calorie intake of each member of an average urban household.
D
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If fast food is an inferior good then:
A. the demand for fast food will fall as income rises. B. the demand for fast food will fall as income falls. C. the quantity of fast food demanded will rise as the price of fast food rises. D. the demand for fast food will fall as the price of fast food rises.
An increase in the number of firms in a market will cause the quantity of a good supplied to increase
Indicate whether the statement is true or false
If an economist says that fiscal policy "crowds out," she believes that
A. government spending has caused workers to lose their jobs. B. government subsidies have caused a monopoly in an industry. C. government borrowing has pushed private borrowers out of the financial market. D. tax rates are so high that workers are encouraged to leave the labor market.
Which of the following is NOT a financial intermediary?
A. a savings and loan association B. commercial banks C. the Internal Revenue Service D. the Federal Reserve Bank of New York