The CPI stands for
A) Citizens Paying Index.
B) Corporate Pricing Index.
C) Consumer Paying Index.
D) Consumer Price Index.
E) Corporate/Consumer Payment Index.
D
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Any practice that forces employers to use more labor than they would otherwise use is
A) closed shop. B) monopolistic exploitation. C) a craft union. D) featherbedding.
Bank reserves divided by bank deposits is called:
A. the reserve/deposit ratio. B. fractional reserve banking. C. the asset/liability ratio. D. 100% reserve banking.
If output sells for $6 per unit, then for 5 units of labor the firm should be willing to pay a wage rate (per unit of labor) of up to
Suppose that production at a firm occurs according to the following schedule.
a) $30
b) $45
c) $180
d) $270
e) $1950
The ability to produce an item at a lower opportunity cost compared with other producers is known as
A) competitive dominance. B) productive dominance. C) comparative advantage. D) absolute advantage.