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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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
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