A system in which anyone collecting antipoverty program benefits must accept a government-provided job is called
workfare
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Because it is a unit of account, money
A) increases transaction costs. B) reduces the number of prices that need to be calculated. C) does not earn interest. D) discourages specialization.
Suppose there are 1,000 firms in a perfectly competitive market and each maximizes profit at 25 units of output when market price is $1.00 per unit. One of the points on the market supply curve must be at:
A. Price = $1 and Quantity supplied = 25,000. B. Price = $25 and Quantity supplied = 24,000. C. Price = $25 and Quantity supplied = 125. D. Price = $1 and Quantity supplied = 125.
When choosing among products, consumers look at
A. The marginal utility per dollar and their budget constraint. B. Only their budget. C. The marginal utility of the good. D. The total utility that will be gained at the end of all consumption.
The following table lists the basket of goods in the Consumer Price Index for the nation of Astro (assume 2014 is the base year).?2014 Quantity2014 Price2015 Quantity2015 Price2016 Quantity2016 PriceSunglasses8$9.0010$11.007$10.00Toothpaste15 3.0018 4.0015 4.00Ferrets6 12.004 15.009 18.00
Using the information in Table 12.2, the inflation rate from 2014 to 2015 is about:
A. 26 percent. B. 38 percent. C. 42 percent. D. 49 percent.