Complements
What will be an ideal response?
two goods that are bought and used together.
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Which of the following is NOT a capital good?
A. A new house purchased by a family B. A new apartment building purchased by a corporation C. Machines purchased by a car manufacturer to measure metal thicknesses D. Batteries purchased by a car manufacturer to install in new cars
Which of the following explains the increase in income inequality since 1980?
A) A widening gap between the wages of skilled and extensively-educated workers and the wages of those with fewer skills and less education B) A rise in the number of single-parent families at low income levels and a rise in two-parent two-earner families at higher income levels C) An increase in the supply of less-skilled workers combined with an increase in demand for more highly-skilled workers D) All of the above.
Suppose the base year of the CPI is 2010, and the CPI calculated for 2012 was 102. What is the correct interpretation of this number?
A. Average prices in the economy have increased by 102 % since 2010. B. Average prices in the economy have increased by 1.9 % since 2010. C. The cost of living for a typical consumer is 2 % higher than it was in 2010. D. The average goods of all consumers has risen an average of 2 % from 2010 to 2012.
A simultaneous increase in both unemployment and inflation is most likely to be the result of a(n):
a. increase in long-run aggregate supply. b. increase in short-run aggregate supply. c. decrease in the aggregate demand. d. simultaneous outward shift of the aggregate demand and supply curves. e. decrease in the short-run aggregate supply.