If your nominal wage rises more slowly than the price level, we can say your real wage has ________ and the purchasing power of a dollar has ________
A) risen; risen B) fallen; risen C) fallen; fallen D) risen; fallen
C
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Without contracts, what type of transactions would occur?
A) forward purchases. B) lateral purchases. C) spot transactions. D) side bars.
Upward shifts are a. increases in both demand and supply
b. decreases in both demand and supply. c. increases in demand and decreases in supply. d. increases in supply and decreases in demand.
Figure 14.2 represents the market for used cameras. Suppose buyers are willing to pay $125 for a plum (high-quality) used camera and $25 for a lemon (low-quality) used camera. If buyers believe that 50% of used cameras in the market are lemons (low quality), how many lemons (low quality) will be supplied by sellers?
A. 10 B. 15 C. 20 D. 25
Along the 45° reference line
A. the relationship between consumption and income is represented. B. consumption expenditures equal saving. C. the average propensity to consume is represented. D. planned real expenditures equal real disposable income.