If the prices of domestic consumer goods increased while the prices of imported consumer goods decreased, and the demand for each remained the same, which of the following would most likely occur?
a. The GDP price index would decrease while the CPI would increase.
b. Both the GDP price index and the CPI would decrease.
c. The GDP price index would increase more than the CPI.
d. The CPI would increase more than the GDP price index.
e. Both the GDP price index and the CPI would increase by the same amount.
C
You might also like to view...
Refer to Figure 4.8. How many different Nash equilibrium points are there in this game?
A) 0 B) 1 C) 2 D) 3
A manufacturer produces 400 units when the market price is $10 per unit and produces 600 units when the market price is $12 per unit. Using the midpoint method, for this range of prices, the price elasticity of supply is about
a. 0.45. b. 2.0. c. 2.2. d. 200.
Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00.Number ofworkersCoffee(cups/hour)00125245360470575 The marginal product of the third worker is ________ than the marginal product of the second worker, implying that ________.
A. greater; diminishing returns are absent B. neither greater nor less; the third worker will be hired C. less; the third worker will never be hired D. less; diminishing returns are present
Money functions as:
A. a store of value. B. a unit of account. C. a medium of exchange. D. all of these.