Which of the following is not correct?
a. The consumer price index gives economists a way of turning dollar figures into meaningful measures of purchasing power.
b. The consumer price index is used to monitor changes in the cost of living over time.
c. The consumer price index is used by economists to measure the inflation rate.
d. The consumer price index is used to measure the quantity of goods and services that the economy is producing.
d
You might also like to view...
To make a correct decision about limiting imports on behalf of an infant industry, the government should look at:
a. political pressure from key constituents. b. a cost-benefit analysis measuring the present value of the likely benefits from lower production costs compared with the cost to society of higher prices in the present. c. the value of retaining U.S. jobs versus the small cost of higher priced units. d. the difficulty of keeping out imports from established trading partners and weighing the number of workers employed in the industry that could not easily get other jobs.
In the above figure, as output increases from 0 units to 10 units to 20 units to 30 units, the deadweight loss
A) falls. B) falls at first, then rises. C) rises. D) rises at first, then falls.