A common measure of inflation is the percentage change in the CPI of adjacent years
Indicate whether the statement is true or false
True
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Research conducted by Roland Fryer shows that the "blackness" of a mother's name plays a significant role in terms of the woman's overall life outcomes
Indicate whether the statement is true or false
Refer to Figure 3-5. At a price of $0,
A) there is a shortage of 0 units. B) there is a surplus of 8 units. C) there is a surplus of 0 units. D) there is a shortage of 8 units.
Implicit costs
A. Include the value of all resources used to produce a good. B. Are the sum of actual monetary payments made for resources used to produce a good. C. Include only payments to labor. D. Are the value of resources used, for which no monetary payment is made.
Suppose that corn prices rise significantly. If farmers expect the price of corn to continue rising relative to other crops, then we would expect:
A. consumer demand for wheat to fall. B. the supply of ethanol, a corn-based product, to increase. C. the supply to fall as farmers plant more of other crops. D. the supply to increase as farmers plant more corn.