Comparing the core inflation rate to the Consumer Price Index, the core inflation rate
A) controls for the biases of the CPI.
B) uses current period quantities, not base period quantities.
C) measures all goods produced, not just consumer goods.
D) includes volatile elements not in the CPI.
E) excludes the volatile elements of the CPI.
E) excludes the volatile elements of the CPI.
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If on Tuesday the perceived price of studying for an exam is $4 per hour but on Saturday the perceived price of studying for an exam is $10, the law of demand predicts
A) more studying on Saturday and less on Tuesday. B) more studying on Tuesday and less on Saturday. C) the same amount of studying on Tuesday and Saturday. D) no studying on Tuesday or Saturday.
If income is distributed equally, the
A. Gini coefficient is greater than zero. B. Line of equality sags below the Lorenz curve. C. Lorenz curve is a straight line. D. Lorenz curve sags below the line of equality.