From 2013 to 2014, the CPI for medical care increased from 150 to 159 . What was the inflation rate for medical care?
a. 5.7 percent
b. 6.0 percent
c. 9.0 percent
d. 59.0 percent
Answer: b. 6.0 percent
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If black markets help people meet their needs, they will tend to ________ created by the restrictive government policies
A) increase the absolute advantage B) reduce the deadweight losses C) reduce the cooperative surpluses D) increase the tax revenues
Taxes on polluting emissions are
a. more efficient than direct controls. b. used by all economic societies. c. less effective than direct regulations. d. easily enforced through the criminal justice system.
Between 2006 and 2013, corn prices
A. rose far faster than inflation. B. rose at about the overall rate of inflation. C. remained largely constant even in nominal terms. D. rose far slower than inflation.
Some people believe that employees should be paid the same wages when their jobs, although different, require similar levels of education, training, experience, and responsibility. This principle is known as:
A. the equal-pay-for-equal work doctrine. B. income justice. C. marginal productivity theory. D. comparable worth.