A worker received $5 for a daily wage in 1930 . What is the value of that wage today if the CPI was 17 in 1930 and is 230 today?
a. 37 cents
b. $4.63
c. $67.65
d. $37.86
c
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The brewing industry is dominated by a small number of very large producers who sell a differentiated product. The market structure that best fits the brewing industry is probably
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
If the Fed sells foreign assets, the monetary base will
A) fall by the amount of the sale, only if the Fed buys domestic bank deposits with the proceeds. B) fall by the amount of the sale, only if the Fed buys domestic currency with the proceeds. C) fall by the amount of the sale, whether the Fed buys domestic bank deposits or domestic currency with the proceeds. D) rise by the amount of the sale.
Individuals in countries with __________ often spend considerable time trying to secure resources from others
a. free riders b. no criminal law c. poorly defined property rights d. side payments e. Pareto efficiency
An equilibrium in both the nation's money market and product market is referred to as a ________ equilibrium
Fill in the blank(s) with correct word