For the CPI, the market basket of goods and services is modified
A) each time the Consumer Expenditures Survey is conducted.
B) about every 10 to 20 years.
C) each month when the Price Survey is completed.
D) each year to reflect changes in consumer purchasing habits.
E) at the discretion of the President.
A
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What has been the average growth rate of U.S. real GDP per person over the past 100 years? In which periods was growth most rapid and in which periods was it slowest?
What will be an ideal response?
A Lorenz curve measures the ________ on the horizontal axis
A) cumulative percentage of family income B) cumulative percentage of family wealth C) cumulative percentage of families D) demand of families on welfare
If a production function is represented as q = LaKb, the long-run average cost curve will be horizontal as long as
A) a + b = 0. B) a + b = 1. C) q > 0. D) L = K.
Hedge funds, investment banks, and other non-depository financial firms are known as ________
A) the shadow banking system B) repurchasers C) subprime lenders D) CDOs