Which is the broadest price index reported in the United States?
A) the CPI-U
B) the GDP deflator
C) the consumer price index
D) the producer price index
B
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Increasing returns to scale production technologies cannot give rise to convex producer choice sets.
Answer the following statement true (T) or false (F)
Personal income taxes and transfer payments
A) acts as automatic stabilizers. B) magnify fluctuations in GDP. C) are discretionary fiscal policy tools only. D) are influenced by monetary policy.
There are some concerns that technological progress can lead to an increase in unemployment. Explain the two related but separate dimensions of technological progress
What will be an ideal response?
Developed countries have lost comparative advantage in textiles and apparel
Indicate whether the statement is true or false