Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 270. What does this "270" mean?
a. What cost $100 in 1982 on average cost 270 times as much in 2019.
b. What cost $100 in 1982 on average cost $270 in 2019.
c. What cost $100 in 1982 on average cost 0.27 times as much in 2019.
d. What cost $100 in 1982 on average cost $27 more in 2019
Answer: c. What cost $100 in 1982 on average cost 0.27 times as much in 2019.
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Other things equal, which of the following will lead to an increase in output and employment?
A) The federal government decides to eliminate the Department of Education. B) The federal government implements a national value-added tax (VAT). C) The federal government passes a tax incentive for firms that employ returning war veterans. D) The federal government reduces the duration and amount of unemployment benefits.
An asset whose value is based on the value of another asset is called a:
A. derivative. B. dividend. C. stock. D. bond.
Declining average total cost with increased production is one of the defining characteristics of a natural monopoly
a. True b. False Indicate whether the statement is true or false
Almost all of the immigrants into the United States are uneducated.
Answer the following statement true (T) or false (F)