Gasoline prices typically increase in March and October because of required maintenance at refineries. For this reason, it is best to
A. focus on April/November decreases.
B. seasonally adjust the data.
C. politically adjust the data.
D. focus on March/October increases.
Answer: A
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Consumption functions would shift downward if
A. disposable incomes fall. B. disposable incomes rise. C. price levels fall. D. price levels rise.
The quantity theory of inflation indicates that the inflation rate equals
A) the growth rate of the money supply minus the growth rate of aggregate output. B) the level of the money supply minus the level of aggregate output. C) the growth rate of the money supply plus the growth rate of aggregate output. D) the level of the money supply plus the level of aggregate output.
Child poverty is
A. much more of a problem in France, Germany, and Japan than it is in the U.S. B. less of a problem in the United States than in Canada, Britain, or Italy. C. more of a problem in Sweden, Denmark, and Ireland than it is in the U.S. D. much more of a problem in the U.S. than in virtually all other industrialized countries.
The Bureau of Labor Statistics produces data on unemployment based on the number of people collecting unemployment insurance
a. True b. False Indicate whether the statement is true or false