External link to Question : 161.WhichofthefollowingisnotawidelyacknowledgedproblemwithusingtheCPIasameasureofthecostofliving? a.substitutionbias b.introductionofnewgoods c.unmeasuredqualitychange : 1261692

Question : 161.WhichofthefollowingisnotawidelyacknowledgedproblemwithusingtheCPIasameasureofthecostofliving? a.substitutionbias b.introductionofnewgoods c.unmeasuredqualitychange : 1261692

  161.WhichofthefollowingisnotawidelyacknowledgedproblemwithusingtheCPIasameasureofthecostofliving? a.substitutionbias b.introductionofnewgoods c.unmeasuredqualitychange d.unmeasuredpricechange 162.Thethreeproblemswithusingtheconsumerpriceindexasameasureofthecostoflivingare a.widelyacknowledgedandeasytosolve. b.widelyacknowledgedanddifficulttosolve. c.nearlyunacknowledgedandeasytosolve. d.nearlyunacknowledgedanddifficulttosolve. 163.Whentherelativepriceofagoodincreases,consumersrespondbybuying a.alargerquantityofthatgoodandalargerquantityofsubstitutesforthatgood. b.alargerquantityofthatgoodandasmallerquantityofsubstitutesforthatgood. c.asmallerquantityofthatgoodandalargerquantityofsubstitutesforthatgood. d.asmallerquantityofthatgoodandasmallerquantityofsubstitutesforthatgood. 164.Whentherelativepriceofagooddecreases,consumersrespondbybuying a.alargerquantityofthatgoodandalargerquantityofsubstitutesforthatgood. b.alargerquantityofthatgoodandasmallerquantityofsubstitutesforthatgood. c.asmallerquantityofthatgoodandalargerquantityofsubstitutesforthatgood. d.asmallerquantityofthatgoodandasmallerquantityofsubstitutesforthatgood. 165.Supposethepriceofaquartofmilkrisesfrom$1.00to$1.20andthepriceofaT-shirtrisesfrom$8.00to$9.60.IftheCPIrisesfrom150to195,thenpeoplelikelywillbuy a.moremilkandmoreT-shirts. b.moremilkandfewerT-shirts. c.lessmilkandmoreT-shirts. d.lessmilkandfewerT-shirts. 166.Supposethepriceofagallonoficecreamrisesfrom$4to$5andthepriceofacanofcoffeerisesfrom$2to$2.50.IftheCPIrisesfrom150to 177,thenpeoplelikelywillbuy a.moreicecreamandmorecoffee. b.moreicecreamandlesscoffee. c.lessicecreamandmorecoffee. d.lessicecreamandlesscoffee. 167.Supposethepriceofasix-packofcolarisesfrom$3to$3.75andthepriceofapackofmintsrisesfrom$1.25to$1.75.IftheCPIrisesfrom140to 182,thenpeoplelikelywillbuy a.morecolaandmoremints. b.morecolaandfewermints. c.lesscolaandmoremints. d.lesscolaandfewermints. 168.Supposethepriceforonegallonofgasolinerisesfrom$3.50to$4.00andthepriceofonegallonofmilkrisesfrom$3.00to$3.20.If theCPIrisesfrom 120to132, thenpeoplelikely willbuy a.moregasolineandmoremilk. b.moregasolineandfewermilk. c.lessgasolineandmoremilk. d.lessgasolineandfewermilk. 169.Oneproblemwiththeconsumerpriceindexstemsfromthefactthat,overtime,consumerstendtobuylargerquantitiesofgoodsthathavebecomerelativelylessexpensiveandsmallerquantitiesofgoodsthathavebecomerelativelymoreexpensive.Thisproblemiscalled a.price-changeneglect. b.unmeasuredqualitychange. c.substitutionbias. d.relativebias. 170.Thesubstitutionbiasintheconsumerpriceindexreferstothe a.substitutionbyconsumerstowardnewgoodsandawayfromoldgoods. b.substitutionbyconsumerstowardasmallernumberofhigh-qualitygoodsandawayfromalargernumberoflow-qualitygoods. c.substitutionbyconsumerstowardgoodsthathavebecomerelativelylessexpensiveandawayfromgoodsthathavebecomerelativelymoreexpensive. d.substitutionofnewpricesforoldpricesintheCPIbasketofgoodsandservicesfromoneyeartothenext.    

External link to Question : 61. Hardister Corp.Hardister Corp. has the following information available from its : 1291643

Question : 61. Hardister Corp.Hardister Corp. has the following information available from its : 1291643

  61. Hardister Corp.Hardister Corp. has the following information available from its financial statements for 2012:  Balance sheet information:   Income statement information: Assets           Current assets $   400,000   Sales (all on account) $3,000,000   Long-term assets      600,000   Cost of goods sold 1,500,000   Total assets $1,000,000   Salary expense 200,000       Miscellaneous expenses 400,000 Liabilities   […]

External link to Question : 5.3   Cross Elasticity and Income Elasticity 1) The extent to which : 1239047

Question : 5.3   Cross Elasticity and Income Elasticity 1) The extent to which : 1239047

  5.3   Cross Elasticity and Income Elasticity 1) The extent to which the demand for a good changes when the price of a substitute or complement changes, other things remaining the same, is measured as the A) income elasticity of demand. B) cross elasticity of demand. C) price elasticity of demand. D) price elasticity of supply. E) cross income elasticity of demand. 2) The cross […]

External link to Question : 8.5   How Moral Hazard Affects the Choice Between Debt and : 1373701

Question : 8.5   How Moral Hazard Affects the Choice Between Debt and : 1373701

  8.5   How Moral Hazard Affects the Choice Between Debt and Equity Contracts   1) Equity contracts A) are claims to a share in the profits and assets of a business. B) have the advantage over debt contracts of a lower costly state verification. C) are used much more frequently to raise capital than are debt contracts. D) are not subject to the moral hazard […]

External link to Question : 3.1   The Demand Side of the Market 1) The market for : 1245011

Question : 3.1   The Demand Side of the Market 1) The market for : 1245011

    3.1   The Demand Side of the Market   1) The market for smart phones has grown rapidly over the past few years, due in part to the overwhelming success of the Apple iPhone. Following the successful launch of the iPhone in 2007, companies such as Samsung, HTC, and LG have all introduced products to compete with the iPhone. The smart phones introduced to […]

External link to Question : 1. Corporations pay a flat 30 percent federal income tax. a. True b. False ANSWER: False : 1313620

Question : 1. Corporations pay a flat 30 percent federal income tax. a. True b. False ANSWER: False : 1313620

    1. Corporations pay a flat 30 percent federal income tax. a. True b. False   ANSWER:  False RATIONALE:  Corporate marginal rates range from 15 percent to 39 percent. POINTS:  1 QUESTION TYPE:  True / False HAS VARIABLES:  False LEARNING OBJECTIVES:  ITF.WABG.15.LO:11-01 – LO:11-01     2. The corporate tax rates favor large corporations. a. True b. False   ANSWER:  False RATIONALE:  The corporate tax rates range from 15 percent to 39 percent. For large corporations with taxable income over $18,333,333, […]

External link to Question : 22) In general, the labor supply curve A) slopes downward because : 1387978

Question : 22) In general, the labor supply curve A) slopes downward because : 1387978

    22) In general, the labor supply curve A) slopes downward because firms will hire fewer workers at higher wages. B) slopes upward because as the wage rises, the opportunity cost of leisure increases. C) is vertical at the equilibrium wage rate. D) is perfectly elastic at the equilibrium wage rate.     23) The wage rate is the opportunity cost of A) working. […]

External link to Question : 21.1   How the European Single Currency Evolved 1) The European Economic : 1303713

Question : 21.1   How the European Single Currency Evolved 1) The European Economic : 1303713

  21.1   How the European Single Currency Evolved   1) The European Economic and Monetary Union A) set up a single currency and sole bank for European economic monetary policy. B) eliminated all barriers to trade such as tax differentials between borders. C) produced a single government for handling European affairs. D) created the Common Agricultural Pact. E) eliminated all local currencies in Western Europe. […]

External link to Question : 31) The quantity of U.S. dollars supplied in the foreign : 1240708

Question : 31) The quantity of U.S. dollars supplied in the foreign : 1240708

    31) The quantity of U.S. dollars supplied in the foreign exchange market is A) fixed at any given exchange rate. B) positively related to the exchange rate. C) negatively related to the exchange rate. D) unrelated to the exchange rate. E) the same as the quantity of for U.S. dollars demanded.   32) In the foreign exchange market, an increase in the exchange […]

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