Which of the following is true about the consumer price index?
A) It is updated continuously to account for the introduction of new goods.
B) It accounts for people switching away from goods whose prices have risen.
C) It assumes that consumers purchase the same quantity of each product in the market basket each month.
D) It accurately reflects quality changes in goods and services over time.
C
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The socially optimal amount of pollution abatement may be less than 100 percent
a. True b. False
According to the quantity theory of money, a 10 percent increase in the money supply leads to a 10 percent increase in:
a. velocity. b. unemployment. c. the price level. d. real GDP.
A decline in real income
a. can occur only if there is a decline in nominal income b. can occur only if there is an increase in the price level c. can occur only if there is either a decline in nominal income or an increase in the price level d. cannot occur if there is either an increase in nominal wages or a decline in the price level e. can occur only if there is a decline in the price level
Which of the following provides medical insurance for individuals who fall below the poverty line?
a. Medicaid b. Medicare c. Affordable Care Act d. Temporary Assistance for Needy Families