To compute the CPI, the Bureau of Labor Statistics (BLS) compiles a "basket of goods" that ________; each price in the index is weighted by ________
A) are produced in the United States; an expenditure survey
B) the average farmer produces; how long it takes for the particular good to reach the market
C) the average urban consumer buys; the quantity of the good that goes into the basket
D) only members of congress purchase; a "luxury" score
E) is typical of consumers below the poverty line; the perceived quality of the good
C
You might also like to view...
Efficiency gains from migration:
A. will tend to be greater when workers migrate from nations with high unemployment to nations experiencing full employment. B. imply that all workers, domestic and migrant, are financially better off as a result of migration. C. will tend to be greater in countries experiencing "brain drain." D. usually benefit one nation at the expense of another.
Graphically illustrate the intended effect of this tax incentive, and explain the expected outcome of phasing it out. (Assume there is no production externality.)
To promote cleaner air, the federal government in the United States enacted tax incentives for purchasing new electric vehicles or clean-fuel vehicles. These were scheduled to be phased out over time.
Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses
Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people that yearly CT scans are critical for good health. How will this affect a typical firm that remains in the industry? A) The firm's marginal revenue curve and average cost curve shift upwards in response to the increase in market price and advertising expenditure. The firm increases output until it starts breaking even. B) The marginal revenue curve shifts upwards, the firm's output increases along its marginal cost curve, it expands production until it breaks even. C) The firm's supply curve shifts right and its marginal revenue curve shifts upwards as the market price rises and ultimately the firm starts making profits. D) The marginal revenue curve shifts upwards, the firm's output increases along its marginal cost curve, it expands production and eventually starts making profits.
What happens to real money demand (rise, fall, no change) due to a change in each of the following factors?(a)A tax on stock market transactions is introduced.(b)Computerized bond trading reduces transactions costs.(c)People's average level of wealth rises.(d)The threat of a recession increases the riskiness of stocks and bonds.(e)The interest rate paid on checking account balances declines.(f)The price level falls in a one-time jump.
What will be an ideal response?