Which of the following best characterizes the main difference between the Consumer Price Index (CPI) and the GDP deflator?
a. One is more accurate than the other.
b. One is more useful than the other.
c. One is more general than the other.
d. One is more trend-focused than the other.
c. One is more general than the other.
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State and local income taxes should be deducted from federal income tax.
A. True B. False C. Uncertain
Many people tend to buy multiple cars from the same manufacturer because
A) doing so reduces the asymmetric information problem; consumers have better knowledge of quality. B) doing so reduces the asymmetric information problem; consumers have better knowledge of prices. C) doing so doesn't change the asymmetric information problem but consumers have more information. D) doing so increases the consumers brand loyalty.
Does a subsidy to sellers affect the supply curve?
A. Yes, it shifts supply vertically downward by the amount of the subsidy. B. Yes, it shifts supply to the right by the amount of the subsidy. C. No, the quantity supplied will increase, but the supply curve does not move. D. No, the quantity supplied will decrease, but the supply curve does not move.
The fundamental reason to study economics is to study
a. how choices are made. b. how production is determined. c. how countries trade with each other. d. how finances are determined.