What is the good or service is given the most weight in the CPI?
A) housing
B) apparel
C) recreation
D) food and beverages
E) transportation
A
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The concept of an open economy means that
A) a nation's borders are open to flows of imports and exports. B) exports should be controlled but imports should be allowed in without restriction. C) imports and exports should be restricted. D) imports should be limited while exports should be expanded.
Which of the following shifts the demand curve for oranges?
A) disastrous weather that destroys about half of this year's orange crop B) a decrease in the price of a pound of bananas, a substitute in consumption for oranges C) an increase in the price of the fuel used to transport oranges to supermarkets D) great weather that produces a bumper orange crop this year