To measure the CPI, the BLS economic assistants check the prices of
A) all the goods and services produced in a given year.
B) some of the consumer goods but none of the services produced in a given year.
C) about 80,000 goods and services each month.
D) about 80,000 goods and services each quarter.
E) only the prices of the goods and services whose prices have changed.
C
Economics
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Refer to Figure 18.3. The opportunity cost of producing pogo sticks in Livonia is
A) 2/3 of a scooter. B) 4/5 of a scooter. C) 6/5 scooters. D) 1.25 scooters.
Economics
Total output and total income in the circular flow model
A) are measures of the economy's level of savings. B) include only intermediate goods. C) are equal to each other. D) are related because national income is less than national product.
Economics