Suppose a report from the Bureau of Labor Statistics states that the CPI for the year 2012 was 152. What is the percentage point increase in the prices of the goods and services since the reference base period?
A) 252 percent B) 100 percent C) 52 percent D) 48 percent E) 152 percent
C
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At one time, policymakers interpreted the Phillips curve as offering a menu of inflation–unemployment choices. Today, the curve is no longer viewed this way. Why has the interpretation changed?
What will be an ideal response?
When the Fed embarked on a policy known as quantitative easing, they
A) reduced the required reserve ratio by one-quarter point per month for 12 months. B) bought longer-term securities than are usually bought in open market operations. C) opened up lending to primary dealers, commercial banks, and investment banks. D) slowly lowered the federal funds rate target until it was equal to zero.
A price-discriminating monopoly firm will tend to charge a higher price to customers with a greater willingness to pay than it does to customers with a lower willingness to pay
a. True b. False Indicate whether the statement is true or false
Which of the following groups are most likely to oppose a balanced federal budget?
a. politicians b. economists c. economists and politicians d. households and politicians