Wilson is offered a job in Kansas City that pays $50,000 and a job in Dallas that pays $60,000 . Which pair of CPIs would ensure that the two salaries have the same purchasing power?
a. 80 in Kansas City and 100 in Dallas
b. 125 in Kansas City and 150 in Dallas
c. 100 in Kansas City and 124.5 in Dallas
d. 100 in Kansas City and 140 in Dallas
b
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Real per capita GDP in the United States in 2015 was approximately
A. $16,349. B. $47,845. C. $50,820. D. $16.3 trillion.
According to the quantity theory of money, inflation results when excessive paper money is in circulation
Indicate whether the statement is true or false
If something serves as a store of value, we expect it to be
A) divisible. B) durable. C) of intrinsic value. D) light.
When oligopolistic firms collude to maximize their joint profits, in comparison with the situation in competitive markets, their actions generally lead to
a. a larger output and lower prices. b. a smaller output and higher prices. c. a smaller output and lower prices. d. the same output and higher prices.