U.S. prices are considered stable only when the Consumer Price Index
a. falls.
b. moves 10 percent or less in a year’s time.
c. moves 2 percent or less in a year’s time.
d. remains unchanged.
c. moves 2 percent or less in a year’s time.
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Food stamps provided by the government to households are an example of
A) vouchers. B) marginal benefits from producing a good or service. C) marginal cost from producing a good or service. D) marginal external cost. E) a government good.
The purchasing power parity (PPP) theory suggests the prices of identical items will equalize internationally. An illustration that supports this theory is the fact that the price of a McDonald's "Big Mac" is the same around the world
a. True b. False
A budget line represents all combinations of bundles of two goods that give a consumer equal total utility
a. True b. False Indicate whether the statement is true or false
For all practical purposes, the supply of land is:
A. almost perfectly inelastic. B. negatively sloped. C. relatively elastic. D. perfectly elastic.