If a firm produces components of its goods and services in other countries, it is said to be outsourcing
Indicate whether the statement is true or false
TRUE
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Suppose a price index is formed to measure changes in the price level between 2005 to 2010. To form a Laspeyres price index, one would
a. compare the cost of the typical basket of goods purchased in 2005 with the cost of the typical basket of goods purchased in 2010. b. calculate the increase in the cost of the typical market basket purchased in 2005. c. calculate the increase in the cost of the typical market basket purchased in 2010. d. take the typical basket of goods purchased in 2007, and compare the costs of that basket in 2005 and 2010.
Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen-only device
An 8-gigabyte version now costs $230, down from $300. A 32-gigabyte model costs $400, down from $500. Calculate the price elasticity of demand for a 32 gigabyte Touch player if the quantity demanded increases from 850,000 to 950,000 the month after the price decrease. A) 0.5 B) 1.5 C) 1 D) 0.75
The Keynesians argue that even if the interest rate does __________ in response to a decrease in investment, there is __________ guarantee that spending will increase very much
A) increase; no B) increase; a C) decrease; no D) decrease; a
Which of the following statements is true about the Medicaid program?
a. The law places a ceiling on state per capita spending for enrollees. b. The majority of total outlays are for the elderly and disabled. c. Eligibility standards are uniform across all states. d. Federal tax revenues provide 100 percent of the program's funding. e. Everyone in the poverty-level population is eligible for benefits.