The CPI is calculated
a. weekly.
b. monthly.
c. quarterly.
d. yearly.
b
You might also like to view...
Why is growth in GDP different from growth in a nation's standard of living? Is it possible for a nation's GDP to grow while its standard of living falls?
What will be an ideal response?
During certain periods in the past few decades, if one of the three major breakfast cereal producers in the United States announced a price increase, the other two announced a similar price increase. This is a good example of
a. monopolistic competition b. a cartel c. a pure monopoly d. the kinked demand curve model of oligopoly e. the price leadership model of oligopoly
The ability of unions to successfully raise wage rates is dependent on the
a. higher elasticity of supply for labor b. lower elasticity of supply for marginal product c. higher elasticity of demand for the goods produced d. lower elasticity of demand for the goods produced e. higher elasticity of demand for labor
Suppose that an economics professor selects two students, Audrey and Michael, to participate in a classroom experiment. The professor gives Audrey twenty $1 bills. Audrey must pick an allocation of the twenty $1 bills to offer to Michael. If Michael accepts the allocation, each student keeps his or her portion of the money. If Michael rejects the allocation, the professor keeps the $20, and each
student receives nothing. Audrey selects $19 for herself and $1 for Michael. Based on the studies of human decision making, which of the following statements is correct? a. If Michael accepts the offer, he is behaving rationally. b. If Michael rejects the offer, he may value fairness more than $1. c. If Michael rejects the offer, Audrey made a bad choice by trying to keep $19 for herself. d. Any of the above could be correct.