The basket of goods measured in computing the CPI includes goods produced in prior years and imported goods
Indicate whether the statement is true or false
TRUE
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All of the following methods were used to raise funds to finance the Civil War (1861–1865) except
(a) An income tax (b) The printing of paper money (c) Taxes on prostitution (d) Taxes on whiskey and beer
If the minimum efficient scale of production is small relative to the size of a market, then
a. the industry will tend to be highly concentrated b. there will be much strategic interdependence among the sellers in the industry c. the industry is unlikely to be an oligopoly d. it is more likely that sellers in the industry will successfully collude e. there will be much merger activity in the industry
The low interest rate policies of the Federal Reserve during 2002-2004,
a. indicated that monetary policy was highly restrictive. b. increased the demand for housing, placing upward pressure on housing prices. c. made home mortgages less attractive, weakening the demand for housing. d. was on target with the federal funds rate proscribed by the Taylor rule.
According to the Federal Trade Commission and Department of Justice HHI Rules, how concentrated is this market?
a. Not concentrated. b. Moderately concentrated. c. Concentrated. d. Highly concentrated.