The measure of the aggregate price level that is frequently the focus of Federal Reserve officials is the
A) consumer price index.
B) producer price index.
C) GDP deflator.
D) PCE deflator.
D
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The production possibilities frontier slopes downward and to the right because of limited resources.
Answer the following statement true (T) or false (F)
Refer to Figure 18.1. After trade begins, ________ will specialize in the production of bicycles and ________ will specialize in the production of hang gliders
A) the United States; Canada B) the United States.; the United States C) Canada; Canada D) Canada; the United States
Four years after graduating from college you must decide if you want to go on as an accountant (your college major) or if you want to make a career change and become a singer. The cost of your education will matter for your decision
Indicate whether the statement is true or false
The idea of bounded rationality is used to address all of the following characteristics EXCEPT
A) unbounded selfishness. B) unbounded knowledge. C) unbounded willpower. D) unbounded rationality.