The most frequently reported price index is ________
A) the consumer price index (CPI)
B) the gross domestic product (GDP) deflator
C) the personal consumption expenditure (PCE) deflator
D) chain weighted GDP
E) the interest income deflator
A
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The major difficulty with using a tax on pollution instead of a fixed percentage reduction regulation is:
A. that it only works in theory. B. that firms would not pay the tax. C. establishing the optimal size of the tax. D. that it would cause prices to rise.
The manager of the sales department (a profit center) at Harvey's HVAC, decides to outsource any sales training that the division needs since in house training is expensive, even though the outsourced training does not cover the company's repair and warranty information from the service department. Who is making a bad decision?
a. The Sales department b. The Service department c. The Training division d. None of the above
You should specialize in the production of a good if you have
A) an absolute advantage. B) more capital resources than your trading partner. C) more human resources than your trading partner. D) a comparative advantage.
The short-run aggregate supply curve shows the relationship between
a. the general level of prices and the quantity of goods and services purchased by all consumers in the economy. b. the general level of prices and the quantity of goods and services that domestic firms will supply. c. the interest rate and the quantity of goods and services that domestic firms will supply. d. the money supply and the quantity of goods and services that domestic firms will supply.