Which of the following generates productive efficiency?
A) government inspectors B) government production rules and regulations
C) competition among sellers D) competition among buyers
C
Economics
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When the price of broccoli increase relative to cauliflower, people who buy fresh vegetables respond by buying more cauliflower and fewer broccoli. As a result, the CPI has
A) a quality change bias. B) a new price bias. C) a commodity substitution bias. D) an outlet substitution bias. E) a new goods bias.
Economics
The supply curve for land in New York City is most likely
A) horizontal or perfectly elastic. B) a downward sloping straight line. C) an upward sloping straight line. D) vertical or perfectly inelastic.
Economics