The real wage is the wage:
A. measured in current dollars.
B. employers are required to pay workers.
C. required to maintain a minimum standard of living.
D. measured in terms of purchasing power.
Answer: D
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The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's consumer surplus from her 15th soda is
A) $0.00. B) $0.50. C) $1.00. D) $1.50. E) $2.50.
In Western nations, the desire for the incredible fruits of the materialist world may often
a. lead to very low opportunity costs of foreign aid b. lead to low birth rates and high death rates c. lead to an abandonment of the LDCs d. come at the expense of tradition e. lead to very high opportunity costs of innovation
An increase in the equilibrium price of electricity can be caused by
A. A decrease in the demand for electricity. B. An increase in the supply of electricity. C. An increase in the quantity demanded of electricity. D. An increase in the demand for electricity.
Membership in the Federal Reserve System
A. is limited to national banks. B. is limited to state banks. C. is required of national banks and open to state banks. D. is forbidden to state banks.