Cruz earned $500 a week in 2003, the base year; by 2009 she was earning $700. If the consumer price index was 150 in 2009, how much were Ms. Cruz's real wages that year, and by what percentage had they changed?
What will be an ideal response?
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If a firm decides to ignore the reactions of its rivals to its policies, the appropriate model to analyze its behavior is
A. game theory. B. perfect competition. C. monopoly. D. cartels.
In order to be effective, the minimum wage must be
a. increased every 3 years. b. above the market wage. c. below the market wage. d. higher for teenage workers.
The largest single source of revenue for the federal government is
A. Personal income taxes. B. Excise taxes. C. Social Security payroll taxes. D. Corporate income taxes.
Under what circumstances would government loan guarantees be socially beneficial?
A. When the guarantees socialize losses and privatize gains. B. When the guarantees stimulate production of goods generating significant spillover costs. C. When the guarantees promote production of goods otherwise underproduced by the private sector. D. When the guarantees increase company profits.