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will fall over time pollution will reduce Us growth None of the above (B)The lasypayres price index (base year weights) will Overstate inflation Understate inflation

will fall over time pollution will reduce Us growth None of the above (B)The lasypayres price index (base year weights) will Overstate inflation Understate inflation

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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(A) The principle of diminshing marginal return says that

  • the return to capital is increasing over time
  • growth is due to technkcal progress
  • the U.S growth rate will fall over time
  • pollution will reduce Us growth
  • None of the above

(B)The lasypayres price index (base year weights) will

  • Overstate inflation
  • Understate inflation
  • cannot be calculated for the us
  • neither understates nor overstates infation
  • None of the above

(C) In practice the us consumer price index (CPI) appears to

  • understate inflation
  • overstates the decline in real wages
  • understates quality change
  • ignores many new goods
  • all of the above
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