In 1996, an advisory commission, appointed by the Senate Finance Committee, estimated that, due to certain distortions, the CPI overstates inflation by

Discouraged workers are included in the calculation of the

i. unemployment rate. ii. labor force participation rate. iii. working-age population. A) i only B) i and ii C) ii only D) iii only E) ii and iii

Which of the following is the best example of an intermediate good?

A. A new highway B. The commission that goes to a real estate agent C. Wax purchased by a candle company D. Wheat sold to a foreign country