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Author Question: The currently used method for calculating the CPI A) accounts for people increasing consumption ... (Read 37 times)

waynest

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on: Jun 29, 2018
The currently used method for calculating the CPI
 
  A) accounts for people increasing consumption of a good that falls in relative price.
  B) probably overstates inflation by about 1 percentage point.
  C) has no effect on government expenditures.
  D) None of the above answers are correct.

Question 2

Which of the following is NOT a characteristic of a perfectly competitive industry?
 
  A) There are many firms.
  B) There are no restrictions on entry into the market.
  C) Each firm produces a slightly differentiated product.
  D) Each firm takes price as given, determined by the equilibrium of industry supply and industry demand.


SeanoH09

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


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