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
A price control always benefits consumers
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.