The core personal consumption expenditures price index excludes
A) food and energy prices. B) energy and housing prices.
C) food and housing prices. D) housing and health care prices.
A
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Refer to Figure 17-3. In Panel A, at low wages (segment i)
A) labor suppliers demand more leisure as wages increase. B) the substitution effect outweighs the income effect. C) the income effect outweighs the substitution effect. D) the substitution effect offsets the income effect.
If General Electric finds that when it doubles both its plant size and the amount of associated inputs, its output level does not double, then
a. the law of diminishing returns is in effect. b. long-run average costs must be decreasing. c. the firm is experiencing diseconomies of scale. d. the firm should increase production. e. the firm is experiencing constant returns to scale.
An advantage of a consumption tax is that it does not distort the incentive to save
a. True b. False Indicate whether the statement is true or false
If women are not allowed to own property or inherit wealth but men are, this is an example of comparative advantage.
Answer the following statement true (T) or false (F)