From the table above, which gives data about the U.S. labor market in 1933, the unemployment rate is
A) 2 percent.
B) 18 percent.
C) 20 percent.
D) 25 percent.
E) 35 percent.
C
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Refer to Figure 15-1. In the figure, the money demand curve would move from Money demand1 to Money demand2 if
A) the price level decreased. B) the interest rate increased. C) the Federal Reserve sold Treasury securities. D) real GDP increased.
Pizza at Home is a frozen pizza company that supplies several large grocery store chains. The managers of Pizza at Home are currently negotiating a four year contract with Saucy Pizza, a manufacturer of pizza sauce. Saucy Pizza will supply a specified quantity of canned tomato sauce to Pizza at Home over a four year period; however; Pizza at Home can ends its contract with Saucy Pizza at the end
of the first, second, or third years if Saucy Pizza does not supply quality tomato sauce. What can the manager of Pizza at Home do to avoid the end-game problem? A) Pay Saucy Pizza in full at the end of the third year. B) Offer to renew the contract with Saucy Pizza if they provide quality tomato sauce in all four years. C) Pay Saucy Pizza in equal installments at the end of each of the four years. D) Pay Saucy Pizza in installments at the end of the first, second, and third years.
The idea of time inconsistency:
A. explains how it can be rational for someone to say he's going to eat a salad for dinner each night this week and end up eating pizza four out of five nights instead. B. explains how it can be rational for someone to pay more for something on his credit card than if he were to pay cash for the same thing. C. explains why people refuse to ignore only some sunk costs. D. Time inconsistency doesn't explain any of these behaviors.
Suppose a basket of goods and services has been selected to calculate the consumer price index. In 2005, the basket of goods cost $108.00; in 2006, it cost $135.00; and in 2007, it cost $168.75 . Which of the following statements is correct?
a. Using 2005 as the base year, the economy's inflation rate was higher in 2007 than it was in 2006. b. If 2007 is the base year, then the CPI is 33.75 in 2006. c. If the CPI is 156.25 in 2007, then 2005 is the base year. d. Using 2005 as the base year, the economy's inflation rate for 2006 was 27 percent.