Which of the following changes would have the largest impact on the CPI?
A) a one percent increase in the cost of housing
B) a one percent increase in the cost of transportation
C) a one percent increase in the cost of medical care
D) a one percent increase in the cost of education
E) a one percent increase in the cost of apparel
A
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Which of the following people would be considered frictionally unemployed?
a. The President of the United States b. An elementary school student c. A lifeguard unemployed during the winter d. A high school graduate entering the labor market for the first time e. A person laid off from his job
In the 1990s, the Monks of St. Benedict's the Monks determined that their ________ were ________ in the egg and cookie business, so they ________ .
A) opportunity costs; too low; switched to providing private retreats B) opportunity costs; too high; switched to providing private retreats C) profits; too high; went out of business D) operating costs; too low; opened a new business
A demand curve with constant slope over all quantity values can have a continuously changing price elasticity of demand.
Answer the following statement true (T) or false (F)
The table above shows Tom's total utility from milkshakes and sodas. What is the marginal utility of Tom's eighth milkshake?
A) 32 units B) 20 units C) 16 units D) 10 units