If the cost of housing increases by 10 percent, then, other things the same, the CPI is likely to increase by about

According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. Being a socialist country, the constitution claimed resources were owned by "society" as a whole. According to the economic way of thinking,

A) their economic problem would be solved. B) resources would finally be used efficiently, because the profit motive would be destroyed. C) people would use Yugoslavia's resources wastefully because they themselves wouldn't have to pay the opportunity cost. D) the central planners would know how to calculate the true values and costs of resource use.

What are menu costs?

A) the full list of a firm's costs of production B) the costs to a firm of changing prices C) the cost to a household of borrowing money when there is deflation D) the opportunity cost of dining in a restaurant instead of at home