The CPI basket of goods represents those goods and services purchased by urban consumers because it represents:
A. over 90 percent of our population.
B. over 80 percent of our population.
C. 78 percent of our population.
D. 60 percent of our population.
Answer: B
Economics
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An individual in the labor force whose employment was involuntarily terminated is
A) a job leaver. B) a job loser. C) a job reentrant. D) part of the PPI.
Economics
Sarah buys little stuffed animals for $5 each. They come in different varieties. If the producer stops making (retires) a certain variety, a stuffed animal of that variety will be worth $100; otherwise it is worth $0. There is 50% chance that any variety will be retired. What is the value to Sarah of knowing ahead of time whether a variety will be retired?
A) $50 B) $5 C) $2.50 D) $0
Economics