The cost disease of personal services stems primarily from the fact that
a. prices rise too slowly to provide public receipts.
b. inflation has been with us since the early 1970s.
c. personal service requires direct contact between producer and consumer.
d. sellers of personal services have strong unions.
c
You might also like to view...
A point inside a production possibilities curve indicates
A) resources are not being used efficiently. B) resources are being used very efficiently. C) opportunity costs are constant. D) an output combination that is unobtainable with the current resource and technology levels
In the table above, how many jackets must Mark forgo for every dress he makes?
A) 2/3 of a jacket B) 1 jacket C) 24 dresses D) 16 jackets E) 1 1/2 jackets
The amount by which the federal government's annual expenditures exceed its annual receipts is the
A) federal debt. B) federal government budget deficit. C) federal government budget surplus. D) federal profit.
In the Taylor rule, does the target for the federal funds rate respond differently for a recession caused by a decrease in aggregate demand and for a recession caused by a decrease in short-run aggregate supply? Explain whether there is or is not a
difference in how the target for the federal funds rate changes.