The Consumer Price Index (CPI) is a weighted average of all the prices paid by households for goods and services
a. True
b. False
B
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The equilibrium increase in marginal costs for firms resulting from the imposition of a price floor will be larger the more inelastic the price elasticity of demand is.
Answer the following statement true (T) or false (F)
A central bank ________ of domestic currency and corresponding ________ of foreign assets in the foreign exchange market leads to an equal increase in its international reserves and the monetary base, everything else held constant
A) sale; purchase B) sale; sale C) purchase; sale D) purchase; purchase
The existence of a monopoly:
A. creates market inefficiencies. B. causes consumers to get less at a higher price. C. causes a reduction in total surplus. D. All of these statements are true.
Property taxes are the main source of funding for public schools.
Answer the following statement true (T) or false (F)