If the CPI declined from 400 in 1998 to 350 in 1999, by what percentage did the price level decline?
What will be an ideal response?
percentage change = change/original number 50/400 = 1/8 = .125 = 12.5%.
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When the city of Fresno holds a referendum to determine if taxes will be raised to pay for road repairs, the city is using a ________ allocation method
A) majority rule B) market price C) contest D) personal characteristics E) command
The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery Frijoles. What is the total fixed cost of producing 4,500 frijoles?
A) $1000 B) $8000 C) $9000 D) More information is needed to determine the answer.
How does the dictator game differ from the ultimatum game? a. The responder can dictate whether the offer is accepted or not
b. The responder has no choice but to accept the proposal. c. The experimenter takes over the proposer's role, inserting an offer designed to test a hypothesis. d. If the responder rejects, the proposer obtains the whole "pie."
Under perfect competition, regarding short-run profit, a firm may find itself losing money. This is true because:
a. the firm was unable to pick the output that maximized profit b. the market conditions make the highest possible profit a negative number c. the demand for its product is weak or its costs are high d. both b and c