Which of the following goods is NOT a likely component of the Consumer Price Index?

Other things being equal, a higher saving rate

A) means higher standards of living today. B) is associated with a decline in the rate of growth of the population. C) means higher standards of living in the future. D) leads to higher interest rates.

If there are economic profits in a monopolistically competitive industry, they will generally be competed away through the

A) manipulation of the demand curve. B) increasing advertising budgets of existing firms. C) entry of new firms. D) introduction of brand name products by existing firms. E) exit of existing firms.