Which of the following is not an example of capital used in production?
a. a teacher's chalkboard
b. a manufacturer's factory
c. a landscaper's time
d. an accountant's education
c
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Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. Which bundle will Max choose?
A) a B) b C) c D) d
Lower than expected inflation rate: a. shifts short-run Phillips curve to the right
b. shifts short-run Phillips curve to the left. c. shifts both short-run and long-run Phillips curve to the right. d. shifts both short-run and long-run Phillips curve to the left.
One could argue that price ceilings should not be placed on the goods sold at the high price "Quick Stop Shop" stores for all of the following reasons except:
a. cash price is not true price b. convenience has a value c. time has a value d. the price of gasoline sold at the store is already controlled e. check out is fast at the "Quick Stop Shop"
?19742015Minimum wage per hour$ 2.00$ 7.25Weekly income from minimum wage$80.00$290.00Cost of a standard basket of goods$47.00$236Number of baskets per week1.701.23
Use Table 2.5 above to answer the question. By what percentage did the real value of the federal minimum wage change between 1974 to 2015?
A. -38.5% B. 38.5% C. 262.5% D. -262.5%