In general we may note that inflation:
A. doesn't necessarily harm purchasing power.
B. always decreases purchasing power.
C. always increases purchasing power.
D. should try to be avoided at all costs.
A. doesn't necessarily harm purchasing power.
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The statement "It would be better to put up with price controls than to have continuing higher medical care prices" is an example of normative economic analysis
a. True b. False Indicate whether the statement is true or false
In 1996, an advisory committee of economists that studied the CPI found
a. no bias in the CPI b. that in a typical year the CPI overstates the inflation rate by at least 1.1 percent per year c. that the CPI consistently overestimates the inflation rate by less than 1 percent per year d. that the CPI typically underestimates the inflation rate e. that the CPI is somewhat erratic; it occasionally underestimates and occasionally overestimates the inflation rate
People who provide you with goods and services
a. are acting out of generosity. b. do so because they get something in return. c. have chosen not to become interdependent. d. are required to do so by the government.
Which of the following is an example of a worker experiencing cyclical unemployment?
A) a worker who changes jobs to move closer to her family B) an assembly line worker who loses his job because of automation C) a freightliner employee that got laid off because of the recession of 2007-2009 D) a lifeguard who was hired during the summer season is laid off after summer is over