Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A.
B. C to D.
C. B to D.
D. A to C.
Answer: B
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The index most widely used by the government and the private sector to measure changes in the cost of living is the
A) Consumer Price Index. B) Producer Price Index. C) the chain-weighted price index. D) the GDP deflator.
A fixed-weight price index provides less accurate changes than a chain-weighted system
a. True b. False Indicate whether the statement is true or false
The resources that a taxpayer devotes to complying with the tax laws are a type of
a. marginal tax. b. administrative burden. c. deadweight loss. d. Both b and c are correct.
When Joe's Gas raises its price for regular unleaded gasoline, total revenue from regular unleaded gas falls to zero. It must be the case that
A. there are not many good substitutes for Joe's regular unleaded gasoline. B. the demand for Joe's regular unleaded gasoline is perfectly elastic. C. the demand for Joe's regular unleaded is inelastic. D. consumers are switching to premium grades of gasoline.