Indexing seeks to reduce the social costs of inflation.
Answer the following statement true (T) or false (F)
True
You might also like to view...
In the opinion of many consumers, there are few, if any, substitutes for the popular search engine Google. If Google were to charge consumers for its services, it would face:
a. a relatively inelastic demand curve. b. a relatively elastic demand curve. c. a negative income elasticity of demand. d. a positive cross elasticity of demand. e. a perfectly elastic demand curve.
The general category of taxes that include unit taxes, sales taxes, and customs duties, is known as a(n)
a. excise tax b. internal tax c. external tax d. estate tax e. property tax
Suppose the total market value of all the final goods and services produced in the country of Rushya was $8 billion in 2008 (measured in 2008 prices) and $9 billion in 2009 (measured in 2009 prices). Which of the following statements is definitely correct?
A. Real GDP increased in Rushya between 2008 and 2009. B. Average price levels increased in Rushya between 2008 and 2009. C. Production increased in Rushya between 2008 and 2009. D. Whether real GDP increased cannot be determined with the information given.
Which of the following statements correctly identifies a similarity between monopoly and perfect competition?
A) Entry is restricted in both market structures. B) Price equals marginal cost in both market structures. C) Production is expanded until marginal revenue equals marginal cost in both the market structures. D) Firms face an upward sloping demand curve and a downward sloping marginal revenue curve in both the market structures.