In the United States, the good or service given the most weight in the CPI basket when calculating the CPI is

In the food and kindred products industry, it is estimated that the elasticity of output with respect to labor is 0.43 and the elasticity of output with respect to capital is 0.48

These two measures indicate that the primary metals industry is characterized by A) decreasing returns to scale. B) constant returns to scale. C) increasing returns to scale. D) no returns to scale.

The age-earning cycle shows declining income as a person approaches retirement age because

A. companies add-in Social Security payments as a supplement. B. companies choose to promote these workers faster. C. worker and hours worked diminish. D. worker productivity is increasing rapidly.