The average starting salary for a history major is $29,500. If the CPI was 147.5, the real salary is
A) $200.00 an hour.
B) $20,000.
C) $35,000.
D) $43,513.
E) $14,750.
B
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What does "diminishing marginal utility" mean?
What will be an ideal response?
Mutual interdependence among firms in an oligopoly means that:
a. firms never practice price leadership. b. firms never form a cartel. c. it is difficult to know how firms will react to decisions of rivals. d. no formal agreement is possible among firms.
It is true of the demand side of the market for input pricing that
a. the same marginal productivity principle serves as the foundation for the demand schedule for each type of input. b. the demand schedule for one input cannot be determined independently of demand schedules for other inputs. c. the demand curve is the complete MRP curve. d. any inward shift in demand for a commodity will result in outward shifts in the demand curves for the inputs used to produce the commodity.
Figure 14-8
Refer to . There is excess money demand at an interest rate of
a.
2 percent.
b.
3 percent.
c.
4 percent.
d.
None of the above is correct.