_____ is the decline in value over time of capital equipment
a. Bracket creep
b. Inflation
c. Depreciation
d. Diminishing productivity
c
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The average starting salary for a history major is $29,500. If the CPI was 147.5, the real salary is
A) $200.00 an hour. B) $20,000. C) $35,000. D) $43,513. E) $14,750.
Someone who sells commodity futures is
A) hedging. B) purchasing risk. C) selling risk. D) simultaneously purchasing and selling risk. E) not necessarily doing any of the above.
Melissa has an income of $240 a month to spend on tennis lessons and concert tickets. The price of a tennis lesson is $20, and the price of a concert ticket is $40. The slope of Melissa's budget line, with tennis lessons on the horizontal axis, is
A) -2. B) -0.5. C) -6. D) -12.
If the CPI is currently 296.3 and the base year is 1967, how much was the CPI in 1967?
A. 96.3 B. 100 C. 196.3 D. 200