A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2005 found a job paying $30,000. The CPI was 1.68 in 2005. The 1972 graduate's job paid in nominal terms and in real terms than the 2005 graduate's job.

A. more; more
B. more; less
C. less; more
D. less, less

Answer: D

Economics

What is the difference between aggregate expenditure and aggregate demand?

What will be an ideal response?

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Economics

As a general rule, you would be unwise to keep a deposit at an FDIC-insured bank in an amount greater than

a. 20 percent of the bank's reserves. b. $1,000,000. c. $250,000. d. an infinite amount; there is no limit.

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Economics

If an increase in the price of some goods outweighs other prices that remain constant or decrease then there is:

A. Inflation. B. Deflation. C. Stagflation. D. Reflation.

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Economics

The vertical distance between the average total cost and average variable cost curves falls as output rises.

Answer the following statement true (T) or false (F)

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Economics

A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2005 found a job paying $30,000. The CPI was 1.68 in 2005. The 1972 graduate's job paid ________ in nominal terms and ________ in real terms than the 2005 graduate's job.