Which of the following are considered sources of bias in the CPI?
a. Prices changing too rapidly; substitution, new technologies; and quality changes.
b. Prices changing too rapidly; substitution; quality changes; and growth in discounting.
c. Quality changes; new technologies; prices changing too rapidly; and growth in discounting.
d. Substitution; new technologies; prices changing too rapidly; and growth in discounting.
e. Quality changes; new technologies; substitution; and growth in discounting.
E
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Jess owns a sandwich sho
A) 1.33. B) 0.75. C) 3.00. D) 4.00. E) 1.50.
If a good has an external benefit, efficiency can be achieved by
A) leaving the market unregulated. B) monopolizing the market. C) offering a private subsidy on the good equal to the external benefit. D) imposing a tax on the good equal to the external benefit.
A binding price ceiling:
A. will cause quantity supplied to exceed quantity demanded. B. will increase total well-being. C. will set a legal minimum price in a market. D. will cause quantity demanded to exceed quantity supplied.
The "efficiency of the payments mechanism" refers to
a. the ease and speed of exchanging money for goods and services. b. how fast member banks replenish required reserves. c. how fast banks pay interest on deposit accounts. d. how fast countries pay off foreign debts.