Chain-weighted price indices are constructed such that:
A. prices in different economies can be directly compared with one another.
B. prices in different years can be directly compared with one another.
C. all years' levels of GDP are directly related to a base year level of GDP.
D. prices of one good can be directly compared with prices of other goods.
Answer: B
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Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as
A) employed. B) not in the labor force. C) not in the working-age population. D) unemployed.
If long-run average total cost decreases as the quantity of output increases, the firm is experiencing
a. economies of scale. b. diseconomies of scale. c. coordination problems arising from the large size of the firm. d. fixed costs greatly exceeding variable costs.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
What is the mission of the World Bank?
What will be an ideal response?