During periods of inflation, all prices of all products are rising
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose that consumer income decreases and that hamburger is an inferior good. Which of the following will occur in the market for hamburger?
A) Market clearing price will rise, and equilibrium quantity will rise. B) Market clearing price will fall, and equilibrium quantity will fall. C) Market clearing price will rise, and equilibrium quantity will fall. D) Market clearing price will fall, and equilibrium quantity will rise.
The monthly Household Survey by the United States Census Bureau (on behalf of the Bureau of Labor Statistics) has a national sample size of
a. 8,000 households b. 400,000 households c. 150,000 households d. 60,000 households e. 20,000 households