Core inflation
a. excludes expensive purchases, such as housing and cars.
b. is the main inflation rate.
c. excludes volatile prices, such as food and energy.
d. only includes volatile prices, such as food and energy.
c. excludes volatile prices, such as food and energy.
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Refer to the scenario above. What is the probability of picking a red ball from the box?
A) 24.65% B) 45% C) 50% D) 64%
A price floor will result in
a. a decrease in price if the price floor is below the market price. b. a decrease in price if the price floor is above the market price. c. an increase in price if the price floor is above the market price. d. the same price as the market price.
A surplus in our balance of payments causes the dollar to __________, which causes the surplus to __________
A) appreciate; increase B) appreciate; decrease C) depreciate; increase D) depreciate; decrease
In the long run, a perfect competitor
A) earns positive profits but will not make losses. B) earns positive economic profits. C) earns zero economic profits. D) produces at its shutdown point.