The usefulness of standard goods market price indexes for judging policy is limited because:
A. they include only the price of gold and silver.
B. they do not include the price of assets.
C. the United States is no longer on the gold standard.
D. they include the prices of assets.
Answer: B
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In what ways do futures contracts differ from forward contracts?
What will be an ideal response?
In evaluating public projects, a higher interest rate (r) will favor those projects which
a. have costs and benefits occurring in the more distant future. b. have costs and benefits occurring in the more immediate future. c. have benefits occurring in the more immediate future and costs occurring in the more distant future. d. have benefits occurring in the more distant future and costs occurring in the more immediate future.
Opportunity cost is best defined as the:
a. sum of all alternatives given up when a choice is made. b. money spent once a choice is made. c. highest-valued alternative given up when a choice is made. d. cost of a good minus the satisfaction obtained from consuming it. e. cost of capital resources used in the production of additional capital.
In order to increase tax revenue, the government of Quorta decides to impose an excise tax. Which of the following goods should it tax?
a. Candy b. Beer c. Gasoline d. Restaurant meals