Suppose today's CPI is 134.85, and suppose one must spend $580 today to purchase the same basket of goods and services that could be bought for $400 in 1989 . Then the CPI in 1989 was
a. 24.27.
b. 60.68.
c. 93.00.
d. 195.53.
c
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The marginal social benefit curve for water quality slopes downward because
a. the total benefit from clean water decreases as water becomes cleaner b. the added benefit from cleaner water is greater when water quality is poor than when water quality is high c. the added benefit from cleaner water is smaller when water quality is poor than when water quality is high d. the total benefit from clean water increases as water becomes cleaner e. people demand clean water at any price
Assume the total utilities corresponding to the first four units of a product consumed are 8, 12, 14, and 15, respectively. The marginal utility of the second unit consumed is:
a. 0. b. 4. c. 12. d. 20.
In 1964, the poverty line for a family stood at about which of the following figures?
a. $2,100 b. $3,000 c. $4,500 d. $7,500
House prices in the U.S. increased dramatically ________, and decreased dramatically ________.
A. from 2007 to 2009; from 2001 to 2006 B. from 2001 to 2009; from 2006 to 2007 C. from 2001 to 2006; from 2007 to 2009 D. from 2006 to 2009; from 2001 to 2006