Which of the following is likely hardest to resell?
A) An Apple iPod
B) A discount airline ticket you bought with your frequent flyer miles
C) A used car
D) The free spa treatment you won at a raffle
B
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One of the reasons for the growth performance of free-market economies is firms’ use of innovation to compete with one another.
Answer the following statement true (T) or false (F)
A federal budget deficit occurs when: a. there is deflation
b. federal government purchases exceed net taxes. c. there is inflation. d. aggregate demand is greater than aggregate supply. e. aggregate supply is greater than aggregate demand.
A movement from an upper point to a lower point on the Phillips curve shows
a. decrease in the inflation and decrease in the unemployment. b. increase in the inflation and decrease in the employment. c. increase in the inflation and increase in the employment. d. decrease in the inflation and increase in the unemployment.
If the current price of a market basket of goods is $600 and the base year price for the same market basket is $500, what is the value of the price index?
A. 150 B. 100 C. 120 D. 140