If disposable personal income (DPI) = $700 and personal income taxes = $100, then what is personal income (PI)?
A. $800
B. $700
C. $600
D. can't tell from the information provided
Answer: A
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In the aggregate supply-aggregate demand model, if every person in the economy correctly anticipates the inflation rate, the unemployment rate will
A) be less than the natural rate of unemployment. B) be more than the natural rate of unemployment. C) equal zero. D) equal the natural rate of unemployment.
A change in the money supply creates demand and cost pressures that lead to future increases in the price level from which main sources? I. Excess demand for output and labor II. Inflationary expectations III. Raw materials prices
A) I B) II C) II and III D) I and II E) I, II, and III
Which of the following statements is necessarily true regarding a point along a budget line? a. It implies an individual has spent her entire income
b. It implies an individual is as happy as possible given her income. c. It implies an individual no longer faces tradeoffs between both goods. d. It implies an individual would be better off consuming a different bundle of goods.
Refer to the accompanying table. The marginal utility of the 3rd dinner is:Number of DinnersOut Per WeekTotal UtilityMarginal Utility1100 2 753235 4250
A. 160. B. 60. C. 75. D. 135.