Suppose Derek earns an annual income of $96,000 . If the rate of growth of his income remains constant at 15 percent, he is most likely to earn _____ per year after 2 years
a. $178,987
b. $145,700
c. $10,000
d. $126,960
d
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The significantly high rates of inflation in the 1970s occurred, in part,
A. because of increased petroleum prices. B. due to high unemployment. C. despite falling gasoline prices. D. due to restrictive monetary policies.
A perfectly competitive firm's marginal revenue is
a. slightly higher than it's selling price. b. slightly lower than it's selling price. c. higher than selling price when reducing output, lower than selling price when increasing output. d. exactly equal to selling price.
Some colleges charge all students the same fee for a weekly dining services meal plan. Suppose that students differ by how much food they consume each week. For example, members of the women's swimming team consume, on average, twice as much food as the average female college student, and the average male college student consumes 20 percent more food than the average female college student. The
dining services fee is most like a(n) a. excise tax that conforms to the benefits principle. b. excise tax that violates the benefits principle. c. lump-sum tax that conforms to the benefits principle. d. lump-sum tax that violates the benefits principle.
Which of the following headlines is more closely related to what microeconomists study than to what macroeconomists study?
a. Unemployment rate falls from 7.5 percent to 7.3 percent. b. Real GDP falls by 0.4 percent in the third quarter. c. Inflation was 2.4 percent last year. d. The price of gasoline rises due to rising oil prices.