The producer price index focuses on price changes of domestically produced goods and includes services, construction, and imported goods
Indicate whether the statement is true or false
FALSE
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If the average costs of production decline with increases in output, then the larger a firm is, the lower its per unit costs will be
a. True b. False Indicate whether the statement is true or false
As we move downward and to the right along a linear, downward-sloping demand curve,
a. both slope and elasticity remain constant. b. slope changes but elasticity remains constant. c. both slope and elasticity change. d. slope remains constant but elasticity changes.
A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example of:
a. frictional unemployment. b. structural unemployment. c. durational unemployment. d. cyclical unemployment.
A price control always benefits consumers
a. True b. False Indicate whether the statement is true or false