If the CPI was 95 in 1955 and is 475 today, then $100 today purchases the same amount of goods and services as
a. $4.75 purchased in 1955.
b. $20.00 purchased in 1955.
c. $95.00 purchased in 1955.
d. $500 purchased in 1955.
b
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Which of the following is most likely to be observed in a community where legal ceilings are imposed on residential rents?
A) Landlords will do a better job of property maintenance. B) People moving into the community will have difficulty locating residential space to rent. C) Poor people will be able to find adequate housing. D) Tenants will reduce their use of housing space. E) The people most in need of housing will be able to obtain the space they want.
Neoclassical economists believe that government policy should focus on creating a market-oriented environment that rewards________________.
a. importing b. exporting c. innovation d. production
As measured by the amount of trade it does, has the U.S. economy become more internationalized? Provide two reasons for this change
A minimum wage law is a:
A. quantity restriction. B. customary norm without legal structure or protection. C. price ceiling. D. price floor.