Headline inflation:
A. includes all of the goods the average consumer buys.
B. is measured using core inflation with the prices of food and gasoline added in.
C. is based on the CPI basket of goods.
D. All of these statements are true.
Answer: D
Economics
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An increase in the price of grape juice causes an increase in the marginal revenue product of labor used to produce grape juice
Indicate whether the statement is true or false
Economics
Senator Hubris wants to pass a law that would require all monopolistically competitive firms to operate at their efficient scale. If this law were to pass and be enforced, we would expect that monopolistically competitive firms would
a. see their profits increase. b. break even. c. lose money. d. not really be affected by the law.
Economics