The core inflation rate measures changes in the
A) prices of consumer goods except health care.
B) prices of all consumer goods.
C) prices of consumer goods except food and fuel.
D) price of only two consumer goods: food and fuel.
E) prices of all the "core" goods and services a typical family buys.
C
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Refer to Figure 15-16. If the regulators of the natural monopoly allow the owners of the firm to break even on their investment the firm will produce an output of ________ and charge a price of ________
A) Q3 units; P4 B) Q1 units; P1 C) Q1 units; P4 D) Q5 units; P3
Which organization officially tracks all business cycles in the U.S. economy?
a. Department of Commerce b. National Bureau of Economic Research c. Bureau of Economic Analysis d. Census Bureau
The indifference curves for nickels and dimes will be
A. a straight line with negative slope. B. a straight line with positive slope. C. concave. D. L-shaped.
Most modern economic analysis is normative in nature, but involves questions with positive aspects.
Answer the following statement true (T) or false (F)