If the cost of apparel increases by 50 percent, then, other things the same, the CPI is likely to increase by about
a. 0.5 percent.
b. 1.5 percent.
c. 3.0 percent.
d. 11.8 percent.
b
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The following table is for a purely competitive market for resources.Number of WorkersTotal ProductProduct Price00$311632263334344035443At a wage rate of $23 per worker, the firm will choose to employ
A. 2 workers. B. 3 workers. C. 4 workers. D. 5 workers.
What is the economic problem?
What will be an ideal response?
Assume that with existing tax and spending laws, government spending exceeds government tax revenues. To cover the resulting shortfall, the government must:
A) increase consumers' incomes. B) print more money. C) Borrow money in the financial markets. D) lower interest rates.
Asymmetric information problems are worse the __________ the borrowing firm, since there is __________ publicly available information about those firms
A) larger; more B) larger; less C) smaller; more D) smaller; less