The core rate of inflation is a measure of the relative price changes that excludes changes in energy and food prices
Indicate whether the statement is true or false
FALSE
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If a production process exhibits diminishing returns, then as output rises:
A. total fixed cost will eventually increase. B. total revenue will eventually decrease. C. marginal cost will eventually increase. D. average total cost will eventually decrease.
In 2014, approximately 47 percent of the U.S. public debt was held by
A) investment firms. B) individuals. C) private companies. D) foreigners.
Terri is enrolled in her first economics course. She is required to give a presentation about the circular flow. Which of the following statements should she include in her presentation?
A) Households choose the amount of the factors of production to provide the firms. B) Firms choose the amount of the factors of production to provide households. C) Households receive wages for the amount of entrepreneurship they provide firms. D) Firms pay wages for the amount of entrepreneurship they provide households. E) The flows of goods and services and payments for the goods and services flow in the same direction.
A highway is a public good _____
a. if it is free b. if it is publicly run c. if it is uncongested d. if drivers cannot be excluded from driving on it