The CPI compiled by the Bureau of Labor Statistics is used in the computations for the
A. foreign exchange rate.
B. inflation rate.
C. interest rate.
D. unemployment rate.
Answer: B
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Which of the following statements is true?
A) A budget constraint is the same for a consumer at all levels of income. B) A budget constraint is a function of the income of the consumer and not the prices of the goods and services available for consumption. C) A budget constraint quantifies the trade-offs that economic agents face while making decisions. D) A budget constraint is based on the minimum amount of money that an economic agent can spend on goods and services.
What was the name of the plan, enacted in 2011, in which the Fed bought $400 billion worth of long-term securities while selling $400 billion worth of short-term securities?
A) Operation Go Long B) Operation Twist C) QE2 D) QE3
The higher the after-tax wage, the greater the quantity of labor supplied.
Answer the following statement true (T) or false (F)
Use the above table. Adam has 3 apples and 3 oranges. Eve has 2 apples and 2 oranges. Eve asks Adam to give her an apple in exchange for an orange. Should Eve go through with this exchange?
A. No. Adam likes apples more than oranges. B. Yes. She is indifferent between consuming apples and oranges. C. Yes. This way she will have 3 apples, which will give her more total satisfaction. D. No. She gives up more satisfaction than she gets.