According to the table shown, how do we interpret what happened between 2011 and 2014? The cost of living:
A. increased 6 %.
B. increased 1.06 %.
C. decreased 2 %.
D. decreased 0.98 %.
A. increased 6 %.
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If a firm hires workers up to the point where the value of their marginal product equals their wage, then the firm is
a. minimizing labor costs. b. maximizing profit. c. maximizing the MP of labor. d. minimizing average costs.
What is the opportunity cost of economic growth?
A. Investment in the current time period B. Improved technology in the current time period C. Capital goods in the current time period D. Consumption in the current time period
When the price level is rising at ______ and the real interest rate is 1 per-cent a year, the nominal interest rate is 3 percent a year
A. 4 percent a year B. 3 percent a year C. 2 percent a year D. 1 percent a year
Early medieval bankers were similar to modern bankers in that they:
A. would also lend a portion of the deposits. B. were not subject to any regulation. C. could not create money. D. took deposits in gold.