For the CPI, the market basket is expressed in terms of what the goods cost in
A. 1929.
B. The base period.
C. The optimal period.
D. 2000.
Answer: B
Economics
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The faster an automobile is driven (speed), the lower the miles per gallon (mpg) for that automobile. Given this information, we say that an automobile's speed and mpg have
A) a direct relationship B) an inverse relationship C) a linear relationship D) a maximum relationship
Economics
Which of the following would a person who believed in the doctrine of laissez faire disapprove of?
(A) The invisible hand of the marketplace. (B) Government funding of education. (C) Self-interest as the motivating force in the free market. (D) Consumer sovereignty.
Economics