If the CPI was 104 in 1967 and is 390 today, then $10 in 1967 purchased the same amount of goods and services as
a. $2.67 purchases today.
b. $37.50 purchases today.
c. $39.00 purchases today.
d. $104.00 purchases today.
b
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Why do people refuse to pay for public goods?
What will be an ideal response?
"Compensating wage differentials" arise because:
a. workers possess different skills. b. workers prefer the characteristics of some to those of others. c. firms pay higher wages for workers with higher marginal productivities. d. firms discriminate in hiring.
Examples of incentive pay include
a. commission sales b. providing onsite parking for employees c. cleaning the worksite with weekly janitorial service d. offering a certain number of sick days
In the late 1800's deflation caused farmers to suffer as the fall in crop prices reduced their income and thus their ability to pay off their debts
a. True b. False Indicate whether the statement is true or false