An advantage of the establishment survey over the household survey of the labor market is that the establishment survey
A) includes the number of self-employed persons.
B) provides an estimate of the number of persons unemployed.
C) is based on actual payrolls, rather than on unverified answers.
D) includes persons employed at newly opened firms.
C
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The consumer basket used calculating the CPI depends on the goods and services selected in the base year. Suppose in 2000 we used 1952 as a base year. It would be less representative of the goods and services we buy in 2000 because the only good included in the CPI would be
a. personal computers b. CDs c. VCRs d. roller blades e. bread
Comparing the monopolist to the perfect competitor,
A. only the monopolist produces where MC equals MR. B. both have downward-sloping demand curves. C. only the perfect competitor will make an economic profit in the long run. D. only the monopolist will make an economic profit in the long run.