To measure the CPI, the BLS economic assistants check the prices of
A) all the goods and services produced in a given year.
B) some of the consumer goods but none of the services produced in a given year.
C) about 80,000 goods and services each month.
D) about 80,000 goods and services each quarter.
E) only the prices of the goods and services whose prices have changed.
C
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The Lerner Index is preferred to the Herfindahl-Hirschman Index as a measure of market power due to the former's simplicity and straightforward interpretation
Indicate whether the statement is true or false
As the price of good X rises, the demand for good Y falls. Therefore, goods X and Y are
a. substitutes. b. normal goods. c. complements. d. inferior goods. e. none of the above
In Figure 45.5, where one union is bargaining against one employer, the highest possible negotiated wage paid to workers will be 
Figure 45.5
A. W*. B. W2. C. W1. D. an undetermined point between W1 and W2.
Static tax analysis assumes that
A) an increase in a tax rate may lead to a decrease in the tax base. B) an increase in a tax rate will lead to an increase in the tax base. C) an increase in a tax rate will leave the tax base unchanged. D) the tax base will always remain unchanged.