The CPI is reported once every
A) year.
B) quarter.
C) month.
D) week.
E) other year.
C
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Moving downward along a PPF, the opportunity cost of another unit of the good measured along the horizontal axis decreases
Indicate whether the statement is true or false
If Smith believes the economy is self-regulating, then Smith
A) is less likely to advocate expansionary fiscal policy when the economy is in a recessionary gap than Jones, who believes the economy is not self-regulating. B) is more likely to advocate expansionary fiscal policy when the economy is in a recessionary gap than Jones, who believes the economy is not self-regulating. C) will believe that there is zero crowding out, too. D) will believe that wages are inflexible downward, too. E) b and d
Refer to the accompanying figure. Total utility increases with each additional pizza up to the ________ and then declines, but marginal utility ________ with each additional pizza consumed.
A. 7th pizza; increases B. 6th pizza; decreases C. 5th pizza; stays the same D. 6th pizza; increases
Which of the following accurately describes the difference between an individual demand curve and a market demand curve?
a. A market demand curve focuses more on price than does an individual demand curve. b. A market demand curve focuses on a broader set of buyers than does an individual demand curve. c. A market demand curve focuses more on consumers than does an individual demand curve. d. A market demand curve focuses on a more specific area than does an individual demand curve.