When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services:
A. a dollar buys less today than it used to buy.
B. a dollar buys more today than it used to buy.
C. a dollar buys the same today as it used to buy.
D. our income has increased to match the cost of those goods.
A. a dollar buys less today than it used to buy.
You might also like to view...
Under second degree price discrimination, the average price per unit paid by high demand consumers is not equal to marginal willingness to pay for one additional unit.
Answer the following statement true (T) or false (F)
A put option is a contract
A. that gives the owner the right, but not the obligation, to buy shares of a stock at a specified price within the time limits of the contract. B. that gives the owner the right, but not the obligation, to sell shares of a stock at a specified price within the time limits of the contract. C. in which the seller agrees to provide a particular good to the buyer on a specified future date at an agreed-upon price. D. that gives the owner the right, but not the obligation, to buy or sell shares of a stock at a specified price within the time limits of the contract.
Consumers fare worse under a monopoly than under perfect competition because a lower quantity is sold at a higher price in the monopoly market than in a perfectly competitive market
a. True b. False Indicate whether the statement is true or false
Despite continued growth in average income since the early 1970s, the poverty rate has not declined below the level reached in 1973
a. True b. False Indicate whether the statement is true or false