Refer to Table 20-10. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 14.3 B) 87.5 C) 114.3 D) 160
B
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The Board of Governors is the
A) Presidents of the 12 regional banks of the Federal Reserve. B) 7-member group that oversees the Federal Reserve. C) 12-member monetary policy committee of the Federal Reserve. D) 50-member organization of state banking regulators of the Federal Reserve.
Which of the following is not held constant along a firm's demand curve for labor?
A) the quantity of other inputs used by the firm B) the price of the product produced by the firm C) the wage rate D) changes in technology
If a country has the comparative advantage in producing a product, then that country must also have the absolute advantage in producing that product
a. True b. False Indicate whether the statement is true or false
Describe in general terms four or five characteristics of less-developed countries.
What will be an ideal response?