The Federal Reserve looks at the threshold of capital utilization rates as an indicator of inflationary pressures
Indicate whether the statement is true or false
TRUE
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The substitution bias in the consumer price index refers to the idea that consumers ________ the quantity of products they buy in response to price, and the CPI does not reflect this and ________ the cost of the market basket
A) change; underestimates B) do not change; overestimates C) change; overestimates D) do not change; underestimates
Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her
home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. She expects that the seeds she planted will yield $300 worth of lettuce. An economist would calculate Ziva's total cost for the day of farming to equal a. $130. b. $250. c. $300. d. $380.
Infrastructure is best illustrated by:
A. farm equipment. B. school buildings and highways. C. machinery and equipment for the production of consumer goods. D. government tax revenues.
Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1
Refer to Table 9.1. The lowest output this firm would produce before shutting down is ________ unit(s).
A. 1 B. 2 C. 3 D. 4