The urban consumers that the CPI is based on includes:
A. bank tellers.
B. greeters at Walmart.
C. retired persons.
D. All of these are included.
D. All of these are included.
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Economies of scale exist when
a. long-run average costs decline as output increases. b. long-run average costs are constant. c. long-run average costs increase as output increases. d. short-run average costs decline. e. short-run average costs increase.
Which of the following will increase the natural unemployment rate?
i. a minimum wage set above the equilibrium wage rate ii. efficiency wages iii. union-negotiated wages A) i only B) i, ii and iii C) i and ii D) ii and iii only E) i and iii only
Explain how low levels of living can turn into a vicious cycle in developing countries
What will be an ideal response?
The liquidity preference theory ________
A) distinguishes between nominal and real quantities B) shows that demand for real balances depends on real income C) shows that demand for real balances depends on the nominal interest rate D) all of the above E) none of the above