According to the Bureau of Labor Statistics, the Consumer Price Index was
A. never intended to measure increases in the cost of living, but many use it that way.
B. never intended to measure increases in the cost of living and no one uses it that way.
C. always intended to measure increases in the cost of living and does precisely that.
D. only intended to measure increases in the cost of living for a small segment of society.
Answer: A
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If production point is inside the production possibilities frontier
A) it is not possible to produce more of both goods. B) production is inefficient. C) in order to produce more of one good, less of the other must be produced. D) production is in the "unattainable" region.
When and under what circumstances is intervention in international trade justified on market correction grounds? What preconditions would have to be met from the government side for there to be a reasonable likelihood of success?
What will be an ideal response?
"Information Problematic" borrowers are generally
A) municipal governments. B) small businesses and individuals. C) large businesses. D) federal government.
The net loss in welfare from a quota is proportionately larger than for a tariff because: a. it does not result in government revenue
b. the loss in consumer surplus is greater than the gain to producers and the government. c. it prevents nations from fully realizing their competitive advantage. d. it brings about higher prices and revenues to domestic producers.