Inflation must be high in Moscow because it is very expensive to live there
Indicate whether the statement is true or false
FALSE
You might also like to view...
A market characterized by asymmetric information will have an equilibrium price if at that price
a. quantity demanded equals quantity supplied when all participants have the same information. b. quantity demanded equals quantity supplied given prevailing information levels. c. quantity demanded equals quantity supplied under perfect information. d. quantity demanded exceeds quantity supplied if suppliers are better informed (and vice versa).
When adjusting nominal GDP for price changes, it is preferable to use the GDP deflator rather than the consumer price index because
a. the GDP deflator is calculated for a narrow market basket of goods, approximating those items included in our measure of consumption expenditures. b. the GDP deflator calculates changes in the prices of items that more closely approximate those included in GDP. c. the GDP deflator is always less than the consumer price index, and therefore, it is a more stable index. d. the GDP deflator is the sum of the consumer price index and the wholesale price index.
In a major policy document, what did the U.S. Department of Defense say "may act as an accelerant of instability or conflict" in the future, and will force "civilian institutions and militaries around the world" to respond?
a. climate change b. resource shortages c. air pollution d. oil prices
Unlimited wants need not be a problem if
A. resources are also unlimited. B. resources are flexible in what they can do. C. resources are basic energy resources like oil. D. resources are human resources such as skilled labor.