The price of milk increases dramatically, causing a 0.5 percent increase in the CPI. The price increase will most likely cause the GDP deflator to increase by
a. more than 0.5 percent.
b. less than 0.5 percent.
c. 0.5 percent.
d. None of the above is correct; this particular price increase will not affect the GDP deflator.
b
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In the United States, health care spending as a percentage of GDP has declined since 1965
Indicate whether the statement is true or false
Bonnie is a self employed. She makes floral arrangements in a building she rents. She owns the delivery vehicle and has hired a delivery driver. She is an example of
A) entrepreneurial ability. B) labor. C) physical capital. D) human capital.
What is the FOMC? Who are the members of the FOMC? What policy does the FOMC decide?
What will be an ideal response?
The tragedy of the commons occurs because some goods are ________ in consumption
A) excludable B) non-excludable but rival C) non-rival and non-excludable D) non-rival