Suppose that residents of France have seen their real wage rate increase over time. This means that
A) French workers' inflation rate has increased over time.
B) French workers have increased their average hours of labor over time.
C) French workers have received increases in their nominal wage rate over time.
D) French workers have increased buying power.
E) the CPI must have decreased over time.
D
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A firm produces output according to the production function, q = L4/3K1/2 and faces input prices equal to w = $20 and r = $80. What is the minimum cost of producing 1140 units of output?
A) Cost = $780. B) Cost = $694 C) Cost = $2,071. D) Not enough information is given to answer this problem.
The creation of markets that were previously "missing":
A. can create winners and losers. B. increases total surplus. C. benefits those who interact in the new markets. D. All of these are true.
Janelle earned a salary of $40,000 in 1996 and $65,000 in 2006 . The consumer price index was 160 in 1996 and 266 in 2006 . Janelle's 2006 salary in 1996 dollars is
a. $39,097.74. b. $43,062.50. c. $68,900.00. d. $108,062.50.
The fraction of prostitutes who were victims of childhood incest is estimated to be
A. 40 percent. B. 20 percent. C. 80 percent. D. 55 percent.