An increase in labor force participation will increase output and living standards at the cost of

The Consumer Price Index (CPI) relies on the calculation of

A) prices of a variable basket of goods that changes frequently. B) prices of a fixed basket of goods that does not change often. C) the components of GDP that change annually. D) the components of GDP that do not change frequently.

The equilibrium quantity of Smids would be found by

a. choosing a quantity that generated the highest market price b. setting price equal to the revenue target desired by firms c. solving for the price that generates the maximum revenue for sellers d. choosing the quantity desired by consumers and working backward to solve for theprice associated with that quantity e. determining the price and quantity where the demand and supply curves intersect