The purchasing power of the dollar
A) varies directly with the purchasing power of other major currencies such as the euro and the Japanese yen.
B) varies inversely with the price level.
C) varies directly with the price level.
D) varies directly with the price of gold.
B
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If you get great pleasure from anticipating a fun event which of the following is true?
A. You likely have more savings than you would have without the anticipatory pleasure. B. Your intertemporal indifference curve is steeper than it would be without that pleasure. C. You have a higher marginal rate of time preference than if you didn't get that pleasure. D. All of these are true.
Refer to the information provided in Table 23.1 below to answer the question(s) that follow. Table 23.1
Refer to Table 23.1. Assuming society's MPC is constant at an aggregate of income of $300, aggregate consumption would be
A. $425. B. $350. C. $325. D. $305.
The demand and supply curves in the market for gasoline are illustrated in the graph below.
Starting at the equilibrium point, if the government imposes a price ceiling of $10, producer surplus will fall by an amount given by the area ________
A. B + E. B. B + C. C. C. D. A.
Which of the following is an example of nonlabor income?
A. wages B. inheritance C. a month-pay bonus D. proprietors' income