The CPI was 96 in 1982, and the CPI was 230 in 2012 . How much money would you have needed in 2012 in order to buy what you could have bought with $500 in 1982?
a. $208.96
b. $1,197.92
c. $697.92
d. $1,697.92
b
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Which of the following statements about payroll taxes is false?
A. They include Medicare taxes. B. Both employers and employees pay these taxes. C. They provide funds for Social Security. D. They are lump-sum taxes not based on wages/salaries.
If the slope of an indifference curve between two goods decreases as we move from left to right (dropping all minus signs), we infer that the consumer
A. is less willing to trade away a good when he has a lot of it. B. is more willing to trade away a good when he has a lot of it. C. always tries to keep the percentage of his budget spent on each good constant. D. views one of the goods as inferior.
Explain the differences between discretionary fiscal policy and automatic stabilizers, and give one example of each
What will be an ideal response?
A country that has a capital account surplus:
A. is a net buyer of assets. B. has a current account surplus. C. will see its currency remain steady. D. is a net seller of assets.