The formula for the CPI is 100 times
What will be an ideal response?
(Cost of CPI basket at current period prices/Cost of CPI basket at base period prices).
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Sam wins a Mega Millions jackpot worth $3 million. Which of the following is most likely true of Sam's consumption function? a. His consumption function will be flatter
b. His consumption function will be steeper. c. His consumption function will shift upward. d. His consumption function will shift downward.
Current income maintenance programs
A) often provide benefits to people who are working and earning substantially more than the poverty level. B) reduce the incentive of recipients to work. C) have safeguards to ensure that recipients work whenever physically able. D) fail to make the income distribution more equal.
If a person does NOT pay all costs associated with a particular resource-using activity, then
A. the social costs of the activity are greater than the private costs of the activity. B. the full costs of the activity are the sum of private costs plus internal costs. C. the external costs of the activity are greater than the internal costs of the activity. D. the external costs of the activity are greater than the private costs of the activity.
Productivity is the ratio of
A. total capital to the total number of workers. B. total output to the total population. C. total output to the total number of unemployed. D. total output to the total number of worker hours.