The primary purpose of measuring the overall level of prices in the economy is to
a. allow for the measurement of GDP.
b. allow consumers to know what kinds of prices to expect in the future.
c. allow for the comparison of dollar figures from different points in time.
d. allow for the comparison of dollar figures from the same point in time.
C
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The depreciation of the dollar will make U.S. goods ________ to foreigners and make imports ________ for U.S. residents
A) more expensive; cheaper B) cheaper; more expensive C) cheaper; cheaper D) more expensive; more expensive
Without successful bargaining, economic efficiency will not be achieved when there is a negative externality because
A) too much of the good will be produced. B) too little of the good will be produced. C) economic surplus is being maximized. D) the externality causes consumer surplus to exceed producer surplus.