The CPI is biased because it
A) takes into account the changes in product quality.
B) takes into account the changes in technology.
C) does not always take into account the changes in product quality.
D) accurately measures the cost of living but not the cost of producing.
E) does not include services.
C
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That part of disposable income not spent on consumption is defined as:
a. transitory disposable income. b. permanent disposable income. c. disposable income. d. autonomous consumption. e. saving.
Suppose the price of butter falls because milk price supports are removed. Will people's tastes shift away from margarine and toward butter?
In the above figure, which of the figures show(s) a relationships between x and y with a positive slope?
A) Figure D only B) Figure A and Figure B C) Figure C only D) Figure B and Figure C E) Figure A and Figure D
The joint profit maximization solution for a cartel is a attempt to achieve the same result as would a monopolist who owned all the firms in the cartel
a. True b. False Indicate whether the statement is true or false