Refer to the scenario above. What is the present value of the gift voucher for Susan?
A) 30 utils
B) 45 utils
C) 90 utils
D) 180 utils
B
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Information facilitates exchange by fostering competition
Indicate whether the statement is true or false
When wages increase: a. the quantity of labor supplied by an individual always increases. b. the quantity of labor supplied by an individual always decreases. c. the opportunity cost of leisure time increases
d. the opportunity cost of leisure time decreases.
Last year the Jones family earned $40,000 . This year their income is $42,000 . In an economy with an inflation rate of 10 percent, which of the following is correct?
a. The Jones' nominal income and real income have both fallen. b. The Jones' nominal income and real income have both risen. c. The Jones' nominal income has increased and their real income has fallen. d. The Jones' nominal income has decreased and their real income has risen.
The object of inflation targeting is for a country's central bank to try to keep the inflation rate near
A) the country's historical average economic growth rate. B) some predetermined level. C) the country's historical average inflation rate. D) the country's historical average unemployment rate.