This table shows the price-level adjustment as compared to the United States. CountryPrice-Level AdjustmentAustralia-0.50China0.25Mexico0.34United States0.00According to the information given in the table shown, if someone makes $40,000 in the U.S., what would his salary need to be in Mexico to maintain the same standard of living?
A. $13,600
B. $26,400
C. $60,606
D. $40,000
Answer: B
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A) 133.3. B) 135. C) 145. D) 147.
Refer to Figure 26-7. Suppose the economy is in short-run equilibrium above potential GDP, the unemployment rate is very low, and wages and prices are rising
Using the static AD-AS model in the figure above, the correct Fed policy for this situation would be depicted as a movement from A) A to B. B) B to C. C) C to D. D) C to B. E) A to E.
If the quantities of labor and capital in an economy each increase by the same x percent, which of the following will increase by x percent?
A) marginal product of capital B) economic profits C) share of capital income in national income D) rental price of capital E) none of the above
When marginal product __________ average product, average product must be ______________.
A. is greater than; increasing B. is greater than; decreasing C. is less than; increasing D. Any of these is possible.