You put money into an account. One year later you see that you have 6 percent more dollars and that your money will buy 2 percent more goods
a. The nominal interest rate was 8 percent and the inflation rate was 6 percent.
b. The nominal interest rate was 6 percent and the inflation rate was 4 percent.
c. The nominal interest rate was 4 percent and the inflation rate was 2 percent.
d. None of the above is correct.
B
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What does it mean to say that a firm has been made liable?
a. The firm is legally responsible to compensate other parties for damage. b. The firm has begun to treat any external costs as private costs. c. The firm has received the property rights to a disputed resource. d. The firm is required to pay a Pigou tax to the government.
You own a small store. Your cashier thinks you should raise prices to increase your total revenue and your customer thinks you should lower prices to increase your total revenue
The cashier thinks the price elasticity of demand is ________ and the customer believes the price elasticity of demand is ________. A) inelastic; elastic B) elastic; inelastic C) elastic; elastic D) inelastic; inelastic E) unit elastic; elastic
The market implications of taste-based discrimination were in part developed by:
A) Gary Becker. B) Amartya Sen. C) Simon Kuznets. D) Paul Samuelson.
The available data strongly suggest that, as the "needs" argument would suggest, the demand for health care is virtually perfectly inelastic
Indicate whether the statement is true or false