To reduce the bias in the consumer price index, the Bureau of Labor Statistics
A) updates the market basket every two years, rather than every 10 years.
B) updates the market basket every 10 years, rather than every two years.
C) incorporates substitutions by consumers when prices of specific products rise rapidly.
D) incorporates substitutions by consumers when prices of specific products fall rapidly.
Answer: A
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The above figure shows the U.S. market for 1 carat diamonds. With free trade, the United States produces ________ diamonds and imports ________ diamonds
A) 300,000; 600,000 B) 0; 900,000 C) 100,000; 900,000 D) 100,000; 800,000 E) 500,000; 400,000
Which researcher argues that the slave system and its enforcement mechanisms prevented slave individualism from emerging within the system itself?
(a) Robert Fogel (b) Stanley Engerman (c) Stanley Elkins (d) Kenneth Stampp
The terms "saving" and "savings" differ in that
A) saving is a stock, and savings are a flow. B) saving always exceeds savings. C) savings are a stock, and saving is a flow. D) savings can be negative, but saving cannot.
Higher rates of interest increase the opportunity cost of holding money balances
a. True b. False Indicate whether the statement is true or false