Because of the biases in calculating the CPI, actual inflation is
A) accurately measured.
B) less than the measured inflation rate by about 1 percent per year.
C) more than the measured inflation rate by about 1 percent per year.
D) more than the measured inflation rate by about 1 percent per month.
B
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Refer to the scenario above. What is likely to be the impact on Firm A's sales if Firm A decides to sponsor the event while Firm B decides not to sponsor the event?
A) A 5% increase in sales B) A 2% increase in sales C) A 7% increase in sales D) A 0% increase in sales
The basic principle that explains the demand for a factor of production is the
a. principle of marginal productivity. b. Hotelling principle. c. principle of opportunity cost. d. Ramsey pricing principle.
The slope of the total production curve becomes:
A. steeper when marginal product increases, typically at low levels of input. B. steeper when marginal product decreases, typically at high levels of input. C. flatter when marginal product increases, typically at high levels of input. D. flatter when marginal product decreases, typically at low levels of input.
Which of the following persons is most likely to become informed on the National Endowment for the Arts?
A) an attorney B) a mayor of a city C) a farmer D) a student of agriculture E) a sculptor