Over the past year price inflation has been 10%, but the price of a used Ford Escort has fallen from $6,000 to $5,000. The real price of a Ford Escort has fallen by:
A) 12%.
B) 17%
C) 20%.
D) 24%
E) 32%.
D
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Income inequality in the United States has increased in part due to differences in productivity
A more productive worker is likely to be paid ________ than a less productive worker doing the same job, and the worker who adds more value to the product being produced is likely to be paid ________ than the worker who does not add as much value to production. A) more; more B) more; less C) less; more D) less; less
Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values $20, $20, $40, and $40 respectively. The expected value is:
a. $22 b. $24 c. $26 d. $28
If MPC = 0.8 and the economy is in equilibrium $500 below full-employment equilibrium, how much should government spending change to achieve full employment?
a. ?100. b. +80. c. ?80. d. +500. e. +100.
All of the following could shift the demand curve except
A. a change in the price of substitutes. B. a shift of the supply curve. C. a rise in income. D. a rise in population that buys the good.