Data from the Bureau of Labor Statistics show that apparel makes up 14 percent of the typical consumer's budget
a. True
b. False
Indicate whether the statement is true or false
False
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If a monopoly firm sells to competitive distributors, all of the following are true regarding the demand for the monopoly's product except which one?
A) It is the wholesale demand. B) It is a derived demand. C) It is the consumers' market demand. D) It is the distributors' demand.
The major objective of the 1986 tax reform was to: (i) enhance efficiency by lowering marginal tax rates; (ii) enhance equity by closing "loopholes."
a. i and ii b. i but not ii c. ii but not i d. neither i nor ii
Suppose that the real return from operating factories in Canada rises relative to the real rate of return in the United States. Other things the same,
a. this will increases U.S. net capital outflow and decrease Canadian net capital outflow. b. this will decreases U.S. net capital outflow and increase Canadian net capital outflow. c. this will only increase U.S. net capital outflow. d. this will only increase Canadian net capital outflow.
Intermediate goods, like milk sold by a farmer to a supermarket, are
A. included in GDP. B. included in GDP at market value. C. included if it is imported. D. are not included in GDP.