Author Question: Which of the following indices best signals future movements in retail prices? a. The implicit ... (Read 56 times)

justinmsk · **on:** Jun 30, 2018

Which of the following indices best signals future movements in retail prices?

a. The implicit GDP deflator
b. nominal GDP
c. The consumer price index
d. The producer price index
e. The measure of economic welfare (MEW)

Question 2

Look at the production schedule below:

Workers 0 1 2 3 4 5
Output 0 45 80 100 130 165

Which property of a standard production function does it violate?
A) constant returns to scale
B) decreasing marginal product of capital
C) decreasing marginal product of labor
D) production increasing in labor