Under present U.S. federal law, which one of the following is a government-inhibited good?
A. cocaine
B. medical care
C. education
D. housing
Answer: A
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The CPI is calculated by
A. summing the prices of all consumption goods in the economy. B. multiplying the rate of inflation in the economy times the unemployment rate. C. surveying a group of consumers and asking them about their monthly expenditures on necessities. D. pricing a basket of goods and services purchased by a typical urban household.
An example of an adverse inflation shock is:
A. a significant rise in oil prices. B. an increase in government purchases. C. an increase in interest rates. D. a tax increase.
An increase in the marginal cost arising from a more complex specialized investment environment will cause the optimal contract length to:
A. either increase or decrease. B. remain constant. C. increase. D. decrease.
A supply shock that reduces total factor productivity directly affects which term in the production function Y = AF(K, N)?
A. A B. K C. F D. N