Problems in measuring the cost of living include ***************
A. Substitution bias
B. The introd of new goods
C. Unmeasured quality changes
D. All
E. None
D. All
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Which of the following is TRUE regarding the Federal Open Market Committee (FOMC)?
A) It is the main policy-making group of the Congress. B) Representatives from each state control its operation. C) It meets about every six weeks to decide on monetary policy. D) Both answers A and C are correct.
To avoid the winners curse
a. Bid as if you have estimated the valuation higher than any other bidder b. Bid as if you have estimated the valuation highest c. Bid as if you are the smartest of all the bidders d. Bid as if everyone else has a terrible estimate of the value of the product
A tax on the buyers of coffee will
a. increase the price of coffee paid by buyers, increase the net price of coffee received by sellers, and increase the equilibrium quantity of coffee. b. decrease the price of coffee paid by buyers, increase the net price of coffee received by sellers, and decrease the equilibrium quantity of coffee. c. increase the price of coffee paid by buyers, decrease the net price of coffee received by sellers, and decrease the equilibrium quantity of coffee. d. increase the price of coffee paid by buyers, decrease the net price of coffee received by sellers, and increase the equilibrium quantity of coffee.
Between 1960 and 2012, the proportion of workers belonging to a union
a. decreased substantially in the private sector. b. was approximately constant in the private sector. c. decreased substantially in the government sector. d. was approximately constant in the government sector.