The adjustments made recently by the BLS to mitigate the overstatement of the cost-of-living by the CPI
A. completely eliminated the problem.
B. reduced the estimated overstatement from 1.1% to .8%.
C. had no impact on the problem.
D. over compensated for the problem.
Answer: B
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The expenditure multiplier is equal to the change in ________ divided by the change in ________
A) dependent expenditure; autonomous expenditure B) autonomous expenditure; equilibrium expenditure C) the price level; real GDP D) equilibrium expenditure; autonomous expenditure E) real GDP; equilibrium expenditure
If the price of good X decreases, what will happen to the budget line?
A. It will have a parallel shift inward. B. It will have a parallel shift outward. C. It will become flatter. D. It will become steeper.
A monopolistically competitive firm
A. must raise price to sell more output. B. must lower price to sell more output. C. sells a fixed amount of output regardless of price. D. can sell an infinite amount of output at the market-determined price.
Other things equal, the interest rate on a loan will be larger:
A. The higher the risk involved B. The larger the amount of the loan C. The shorter the length of the loan D. If loan interest is exempt from taxation