In year 1 the CPI is 180, and in year 2 the CPI is 192. From year 1 to year 2, Javier's salary rises from $40,000 to $42,000, and Tom's salary rises from $55,000 to $57,000. Who is "more than keeping up with inflation"?
A) Javier
B) Tom
C) both Tom and Javier
D) neither Tom nor Javier
D
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Answer the following statement(s) true (T) or false (F)
1. Trading is beneficial whenever people differ in their abilities or differ in their tastes. 2. In order for there to be a gain from trade, there has to be a difference in either tastes or abilities.
Why is normal profit an opportunity cost?
What will be an ideal response?
The reduction in transactions costs brought about by financial intermediaries benefits
A) small savers, but not small borrowers. B) small borrowers, but not small savers. C) both small savers and small borrowers. D) society through greater economic efficiency; small savers and borrowers do not gain directly.
Which group has the highest poverty rate from among these groups?
A. Children under 18 B. Persons over 65 C. White males D. Members of working class families