The Personal Consumption Expenditures Index
A. also includes producer prices (like the cost of iron ore).
B. only includes food and energy.
C. strips out the cost of food and energy.
D. includes all goods and services people buy (not just what "average" people buy).
Answer: D
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A network externality occurs when
A) the usefulness of a good is affected by celebrities who use the good. B) there is production cost savings from being networked with buyers. C) the usefulness of a good is affected by how many other people use the good. D) there is production cost savings from being networked with suppliers.
To achieve a $500 billion increase in AD, if the MPC is 0.8, what increase in government purchases would be called for?
a. $625 billion b. $500 billion c. $400 billion d. $100 billion
Why do nations often impose trade barriers that make it difficult for their own citizens to trade with people in another country?
What will be an ideal response?
Refer to the following graph to answer the question:
The price elasticity of demand over the price interval $90 to $110 is
A. -2.0 B. -1.0 C. -0.5 D. -1.5 E. -0.4