Price indexes allow comparisons of dollar figures over time and provide us a sense of how the economy is changing
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Although GDP is not the same as economic well-being, high levels of GDP are positively correlated with all of the following except:
A. longer life expectancies. B. higher rates of infant mortality. C. higher material standards of living. D. higher rates of literacy.
If we eliminated our textile tariffs, the dislocated workers could easily switch to other jobs
Indicate whether the statement is true or false
A lawn service is deciding whether to add an additional employee to its summer crew. The marginal cost of hiring this worker depends on the
A) total amount paid to only the new worker. B) total amount paid to all previously hired workers. C) the total amount paid to all the workers, both the new one and the previously hired workers. D) the additional revenue created by having an additional worker minus the cost of hiring the worker.
Many auction markets
a. are perfectly competitive because they involve an identical or nearly identical commodity, many buyers, and because the seller has no influence over the price b. are monopolistic because there is only one seller c. exist only on the Internet, because of the difficulty of assembling all buyers in a single location d. are controlled and run by governments e. involve numerous firms, none of which is large enough to influence the market price