The dates of turning points are determined by a committee from the
A. BEA.
B. FBI.
C. NBER.
D. BLS.
Answer: C
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Refer to Table 8-11. Real GDP for Tyrovia for 2016 using 2007 as the base year equals
A) $1,140. B) $880. C) $690. D) $560.
Advance-purchase discounts offered by airlines are an example of
a. Direct price discrimination b. Indirect price discrimination c. All of the above d. None of the above
Which calculation gives the firm’s profit margin?
a. Average profit = price × average cost b. Average profit = price ÷ average cost c. Average profit = price + average cost d. Average profit = price – average cost
Suppose the base year for a Lespeyres index is 2001. The value of the index is 1.3 in 2004 and 1.6 in 2006. By how much did the cost of the bundle increase between 2004 and 2006?
A. 0.3% B. 23% C. 0.23% D. 60%