HW2 - Homework 2 -Due date is Sep 28th (Next Tue.) Multiple...

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Homework 2 -Due date is Sep 28th (Next Tue.) Multiple Choice (No points will be given if you offer no explanation) (40 points) 1. Unlike the GDP deflator, the CPI includes the prices of: A) goods purchased by firms. B) goods purchased by governments. C) exported goods. D) imported goods. 2. According to the definition used by the U.S. Bureau of Labor Statistics, people are considered to be unemployed if they: A) are out of a job, but not looking for work. B) retired from the labor force before age sixty-five. C) do not have a job, but have looked for work in the past four weeks. D) are absent from work because of bad weather or illness. 3. A production function is a technological relationship between: A) factor prices and the marginal product of factors. B) factors of production and factor prices. C) factors of production and the quantity of output produced. D) factor prices and the quantity of output produced. 4. When factor supply is fixed and quantity of the factor is graphed on
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HW2 - Homework 2 -Due date is Sep 28th (Next Tue.) Multiple...

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