If the cost of the CPI market basket at current period prices is $275 and the cost of the CPI market basket at base period prices is $350, the CPI is
A) 275. B) 79. C) 100. D) 350. E) 127.
B
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In 2015, Ford Motor Company's sales were rising. These events were caused by
A) improving quality of service. B) an economic recession. C) an increase in advertising. D) an economic expansion.
Given the data in Scenario 14.3, how much labor should the firm employ if labor costs $30 a unit?
A) 3 units of labor B) 4 units of labor C) 5 units of labor D) 6 units of labor E) 7 units of labor
If there are five firms in a market and each has an equal market share, the Herfindahl-Hirschman Index (HHI) is ________.
A) 5,000 B) 100 C) 2,000 D) 2,500
Ceteris paribus, a decrease in the price of a good will cause the
a. quantity demanded of the good to decrease. b. quantity supplied of the good to increase. c. producer surplus derived from the good to decrease. d. supply of the good to decrease.