Suppose the market basket of consumer goods and services costs $180 using the base period prices, and the same basket of goods and services costs $300 using the current period prices. The CPI for the current year period equals
A) 166.7.
B) 66.7.
C) 160.0.
D) 60.0.
E) 300.0.
A
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If real GDP is $800 million and aggregate labor hours are 20 million, labor productivity is ________
A) $40 per hour B) $16,000 million C) $40 million D) $160 per hour
Which of the following markets are closest to perfectly competitive
a. The market for smart phones b. The market for generic pharmaceuticals c. The market for sport shoes d. The market for fast food
The Celler-Kefauver Act of 1950:
a. amended the Sherman Act to outlaw price fixing where the effect is to lessen competition b. created the Interstate Commerce Commission. c. prohibited conglomerate mergers where the effect is to lessen competition. d. prohibited a firm from acquiring the assets of another firm where the effect is to lessen competition.
When analyzing the effects of changes in demand in an open economy, we assume that firms:
a. have only one fixed rate of return on various projects when deciding investment activity. b. have differing returns on various projects when deciding investment activity. c. are required to borrow only from domestic banks when funding investment activity. d. consider the effects of inflation on investment activity.