The Consumer Price Index measures
A) the average of raw material prices paid by producing firms.
B) the level of prices with respect to goods and services purchased by a typical consumer in urban areas.
C) the average of the prices of all goods produced in a country and goods imported from other countries.
D) hourly wage rates of manufacturing workers.
B
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Which of the following is an economic policy that promotes the efficient quantity of apartments?
A) a rent floor above the equilibrium rent B) a rent ceiling below the equilibrium rent C) a sales tax imposed on renting an apartment D) none of the above
Which of the following is not a composite currency?
A) The SDR B) The ECU C) The U.S. dollar D) All of the above
A temporary increase in income today leads to
A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.
Insurance companies:
A. only profit by selling to risk neutral clients. B. profit from the difference between the premiums paid and the expected value of clients' payouts. C. must charge less than the expected value of payout, otherwise they would go out of business. D. All of these statements are true.