A decrease in the price of domestically produced nuclear reactors will be reflected in Select one:
a. both the GDP deflator and the consumer price index.
b. neither the GDP deflator nor the consumer price index.
c. the GDP deflator but not in the consumer price index.
d. the consumer price index but not in the GDP deflator.
Answer: c. the GDP deflator but not in the consumer price index.
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How do large increases in oil prices affect the economy?
What will be an ideal response?
Assume that it is predicted that for the years after you graduate from college, the entire economy will experience a long period of prosperity when incomes grow rapidly
What type of industry would be the best for you to find employment if this prediction is correct? An industry that produces a product that is A) income elastic. B) income inelastic. C) inferior. D) a substitute good. E) none of these industries
Total cost of production refers to the:
A) sum of variable costs and fixed costs. B) product of variable costs and fixed costs. C) difference between variable costs and fixed costs. D) ratio of variable costs to fixed costs.
The International Nickel Company of Canada is often cited as an example of monopoly, but International Nickel eventually lost its monopoly. What event was responsible for this?
A) Competition in the market for nickel increased after Canada signed the North American Free Trade Agreement with the United States and Mexico in 1994. B) Competition in the market for nickel increased after nickel fields were developed in Russia after World War II. C) New technology allowed other firms to achieve network externalities after World War II. D) The Canadian government, which had owned International Nickel, sold the company after World War II. The government no longer blocked entry into the market for nickel.