The producer price index measures the prices that firms
A) pay for imported natural resources that go into the production process.
B) receive for the goods and services they export.
C) pay for labor, whether or not the labor is foreign or domestic.
D) receive for the goods and services they use at all stages of production.
D
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As income rises ________
A) the number of transactions households and firms undertake should increase B) wealth also rises C) demand for real money balances should increase D) all of the above E) none of the above
Which of the following is not true with regard to the burden of the U.S. national debt?
A. The debt does burden future generations to the extent that it is sold to foreigners. B. Budget deficits are not appropriate for stabilization purposes under any circumstances. C. The debt will reduce the nation’s capital stock if incurred during a fully employed economy. D. The large deficits of the 1980s and early 2000 were particularly worrisome because they were not attributable to recessions.