The CPI was 138 in one year and 146 the following year. Approximately how much did prices rise between the two years?
a. 4.29 percent
b. 5.5 percent
c. 5.08 percent
d. 5.8 percent
Answer: d. 5.8 percent
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The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. What is the value of marginal product from employing the third worker?
A) $800 B) $1,200 C) $2,000 D) $4,800
The principal-agent problem that exists for bank trading activities can be reduced through
A) creation of internal controls that combine trading activities with bookkeeping. B) creation of internal controls that separate trading activities from bookkeeping. C) elimination of regulation of banking. D) elimination of internal controls.
If a professional sports athlete signs a new contract which defers compensation until years after she is retired, she is signaling
A) that she does not plan to shirk in the future, regardless of whether she did so in the past. B) that she did shirk and she will do so in the future. C) that she did shirk but won't do so in the future. D) that she didn't shirk and she won't do so in the future.
Conservatives and liberals ___ on the causes of poverty and ___ on how to solve the poverty problem.
A. agree; agree B. agree; disagree C. disagree; agree D. disagree; disagree