The percentage rate of change in the price level is called the
A) Consumer Price Index. B) rate of inflation.
C) chain-weighted price index. D) rate of absorption.
B
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How is the wage to be paid to a worker determined by a profit-maximizing firm? If a marginal worker creates 8 units of a product in a month that is sold for $5 per unit, how much should be the maximum wage that should be paid to him?
What will be an ideal response?
One way that government can encourage the production of goods or services that have external benefits is to subsidize the good or service
Indicate whether the statement is true or false
If Jamal successfully and completely internalizes a negative externality, it follows that
A. transaction costs are zero. B. his marginal private costs are equal to marginal social costs. C. information is asymmetric. D. information is symmetric. E. none of the above
Any basket of goods that is missing food and energy items is:
A. missing a large portion of consumption. B. missing a small portion of a typical consumer's basket. C. a useless calculation. D. called the retail sales index.