YearSalaryCPI1969$20,52036.71979$43,26572.61989$85,529124.01999$135,250166.62009$170,844214.5Using the information in the table shown, what is the 2009 value of the salary listed in 1979?
A. $127,828
B. $504,766
C. $14,643
D. $57,824
Answer: A
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The outcome of the game in the figure shown predicts that Joe will earn utility of:
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.
A. 5.
B. 7.
C. 9.
D. 13.
What is the difference between positive and normative economics? How can knowledge of positive economics be useful in normative economics?
Refer to the graph shown. An increase in American interest rates would shift:
A. D1 left and S1 left, causing an appreciation of the euro. B. D1 left and S1 right, causing a depreciation of the euro. C. D1 right and S1 left, causing an appreciation of the euro. D. D1 right and S1 right, causing a depreciation of the euro.
Economic profits are maximized at the point at which
A. accounting profits are equal to zero. B. marginal revenues equal marginal costs. C. accounting profit exceeds economic profit. D. total revenues are greater than total costs.