A COLA is

The GDP deflator

Regarding increasing productivity, factor mobility is

Which of the following would not cause the market supply of cell phones to change?

The GDP of the United States includes production by foreign-owned firms that are located in the United States.

The redistributive mechanics of inflation include all of the following except

The federal income tax system is regressive.

If a nation experiences a year of unusually high immigration that increases the size of the labor force, we can conclude that the

If production in the economy is efficient, then changes in market prices

Governments usually build highways because it is difficult to exclude individuals who don’t pay for the highways from using them. What type of market failure is involved?