Which of the following are considered sources of bias in the CPI?
a. Prices changing too rapidly; substitution, new technologies; and quality changes.
b. Prices changing too rapidly; substitution; quality changes; and growth in discounting.
c. Quality changes; new technologies; prices changing too rapidly; and growth in discounting.
d. Substitution; new technologies; prices changing too rapidly; and growth in discounting.
e. Quality changes; new technologies; substitution; and growth in discounting.
E
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If a production function is represented as q = LaKb, the long-run average cost curve will be horizontal as long as
A) a + b = 0. B) a + b = 1. C) q > 0. D) L = K.
Critics of the unconventional monetary policies in 2009 and 2010 argued that by deciding which financial institutions would fail and which would not, the Fed was assuming authority that rightfully belonged to
A. the FDIC. B. the U.S. Treasury. C. the President. D. Congress.