If the CPI rises from 180 to 270, prices have risen by
A. 30%.
B. 50%.
C. 90%.
D. 180%.
B. 50%.
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A method that is technologically inefficient
A) might or might not be economically efficient. B) can never be economically efficient. C) results from failure to calculate the ratio of the cost of labor to the cost of capital. D) means that it uses too much labor and too little capital.
The social insurance system generally redistributes income from
a. rich to poor and from old to young b. rich to poor and from young to old c. poor to rich and from old to young d. poor to rich and from young to old e. consumers to producers
Public goods are: a. any goods or services several members of the public would like produced b. those goods for which natural monopolies exist
c. goods which cannot be successfully produced by private firms. d. goods which cannot be easily financed through the market system.
Which of the following factors would be the most useful in determining the structure of a market?
a. the number of firms in the market b. the price of the product sold in the market c. the size of the physical structure d. the geographical dispersion of the market e. the age of the market