In the base year the average family spent 25% of its income on Good X, 25% on Good Y, and 50% on Good Z. Over the second year the prices of Goods X and Y were unchanged but the price of Good Z increased by 30%. Which of the following statements is correct? A) The price index at the end of the second year was 100 + (0+0+30)/3 = 110.
B) The effect on the price index is unknown if we don't know how the average family's consumpion of the three goods changed in the second year.
C) The price index would be less than 100 if the average household responded to the relative price changes by spending all it's income on Goods X and Y and nothing on Good X.
D) Answers (B) and (C )are correct, but answer A is incorrect.
E) None of the above is correct.

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.

Which of the following is likely not a benefit of requiring a grand jury to listen to and examine all of the evidence against a person suspected of committing a serious crime and then independently deciding whether or not to hand down an indictment? 1.the grand jury system provides the accused another safeguard against being sent to trial and facing conviction based on flawed evidence. 2.the members of the grand jury are drawn from the community and are empowered to render independent decisions about whether or not the government has collected enough evidence to bring an individual to trial. 3.the grand jury’s decision can provide prosecutors insight into what is necessary to build a sufficient case if a similar crime is presented later. 4.the grand jury is impaneled to rubber-stamp prosecutors’ cases, which makes it possible for more cases to reach trial.