In order to survive in political office, politicians must be steadfast in their convictions and be unwilling to change their political platforms
a. True b. False
b
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Refer to Figure 17-6. Which of the following statements about Scheme II is false?
A) It is likely to draw highly productive workers who see the opportunity to increase their wages. B) It allows workers to increase their monthly wage without penalizing those who are content with their monthly wage. C) It is more risky for senior employees. D) It could discourage less productive workers and induce them to leave the firm.
Inflation
a. hurts society by imposing additional opportunity costs b. is generally harmful, but has the benefit of reducing opportunity costs c. makes it easier for us to comparison shop d. benefits society by causing people to make use of resources that would have otherwise gone to waste e. benefits society because by making people better consumers, they start to buy only those consumer goods they really need
In the calculation of the CPI, tea is given greater weight than beer if
a. the price of tea is higher than the price of beer. b. it costs more to produce tea than it costs to produce beer. c. tea is more readily available than beer to the typical consumer. d. consumers buy more tea than beer.
Suppose the official unemployment rate is 10 percent. Which of the following is a definite conclusion to draw?
What will be an ideal response?