The price index was 220 in one year and 238.2 in the next year. What was the inflation rate?
a. 8.3 percent
b. 108.3 percent
c. 4.8 percent
d. 38.2 percent
a
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A tax is progressive if the ratio of taxes to income rises as income rises.
Answer the following statement true (T) or false (F)
Licensing requirements for doctors, which are intended primarily to maintain the quality of persons who work in the profession, have no the effect on the profits of those individuals because the number of competitors is so large
Indicate whether the statement is true or false
Which of the following is NOT a characteristic of a typical indifference curve?
A. The curve shows all combinations of goods that give the consumer the same level of utility. B. The curve will shift out if income increases. C. As a consumer has less of a good, he is less willing to exchange less of it for one more unit of another good. D. The marginal rate of substitution is measured by the slope of the tangent to the curve.
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $30,000 and that of a market researcher is $20,000. The marginal contribution of engineers and market researchers are 
Given the above information, if the manager has an annual budget of $120,000, how should this budget be allocated in order to maximize the number of new products developed?
A. Hire two engineers and one market researcher. B. Hire three engineers and four market researchers. C. Hire three engineers and two market researchers. D. Hire two engineers and three market researchers.