Price controls may be thought of as
A) a restraint on the rationing function of prices.
B) useful tools that promote production.
C) necessary in market economies.
D) the freeing-up of free market forces.
Answer: A
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Which of the following is NOT a source of bias in the CPI? i. quality change bias ii. new goods bias iii. quantity change bias
A) i only B) ii only C) iii only D) i and ii E) ii and iii
What basket of goods in used to construct the CPI?
What will be an ideal response?
One In the News article in the text is titled "Paying for Trump's Infrastructure Spending." This article highlights the fact that pro-growth government spending must be financed with
A. higher taxes or increased borrowing B. Investments in human capital C. Inflation D. A decrease in the deficit
If the demand for a monopolist's product increases, its
A) marginal revenue increases, making it more profitable to hire more workers. B) marginal revenue increases, making it more profitable to hire fewer workers. C) marginal revenue decreases, making it more profitable to hire more workers. D) marginal revenue decreases, making it more profitable to hire fewer workers.