Suppose Jack's salary increased from $100,000 to $200,000 per year between 2004 and 2014 and the price index increased from 100 to 300 during the same period. Which of the following statements best describes Jack's situation?
What will be an ideal response?
His real income has decreased and money income has increased.
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Given the data in Table 6.1, if the workers who are "not employed and not looking for work" were counted as not employed and in the labor force, the unemployment rate of Metropolis would be approximately
A) 4 percent. B) 7 percent. C) 9 percent. D) 10 percent.
Since 1970, the world Gini ratio has ________ indicating that the world distribution of income has ________
A) risen; become more equal B) fallen; become more equal C) risen; become less equal D) not changed; not changed
Refer to Table 13-3. What is the amount of the firm's loss at its optimal output level?
A) $0 B) $41 C) $45 D) $50
People can be excluded from consuming public goods
Indicate whether the statement is true or false