Which measures the changes in the prices of a "market basket" of some 300 goods and services purchased by typical urban consumers?
A. The Retail Trade survey.
B. The Consumer Price Index.
C. The Survey of Manufactures.
D. The GDP price index.
Answer: B
Economics
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The monopolist is a
A) price taker who tries to find the profit-maximizing rate of output. B) price taker who tries to find the profit-maximizing price. C) price searcher who tries to find the profit-maximizing price-output combination. D) price searcher who tries to find the rate of output that maximizes price.
Economics
When the actual rate of inflation exceeds the expected rate:
A. the unemployment rate will temporarily rise. B. firms will experience rising profits and thus increase their employment. C. the actual rate of inflation will fall. D. nominal wages will decline.
Economics