Which of the following is a major category for the Consumer Price Index?
A. capital goods
B. interest on savings
C. money
D. medical care
Answer: D
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Physical capital refers to stocks and bonds
Indicate whether the statement is true or false
Refer to Figure 13.3. If exchange rates are floating, fiscal policy designed to reduce the federal deficit and the typical Fed response to the change in inflation caused by the fiscal policy would best be represented by a movement from ________ in
panel (a) and a corresponding movement from ________ in panel (b). A) point A to point D; point X to point Y B) point C to point B; point X to point Y C) point D to point A; point Y to point X D) point B to point C; point Y to point X
The fundamental goal of a firm or a business is to
A) produce the largest number of output units possible. B) employ labor in the most socially responsible manner possible. C) organize the factors of production and take risks. D) earn the highest possible returns.
An example of a policy aimed at economic development that would also indirectly impact poverty would be:
A. food stamps. B. earned income tax credit. C. public investments in education. D. All of these will cause economic growth and positively impact poverty.