Each week Jim buys the same market basket composed of a case of ramen noodles, two bottles of coke, and three bags of tortilla chips. Jim has found that it takes more of his wages to buy this market basket than before. Jim is experiencing ________.
A. disinflation
B. depreciation
C. inflation
D. deflation
Answer: C
You might also like to view...
Refer to Scenario 14.2. If each unit of output sells for $5, how many days of labor will the firm hire to maximize profit?
A) 1 B) 2 C) 3 D) 4 E) 5
In the above figure, the total cost of producing the profit maximizing level of output is shown by rectangle
A) 0P1AQ1. B) 0P5EQ5. C) 0P4HQ4. D) 0P2BQ1.
According to Paul Romer, if a country offsets diminishing returns through technological innovation, it can ______.
a. shrink its per-worker production function b. eliminate the need for physical capital investments c. convince citizens to save much of their incomes d. enjoy unimpeded economic growth
Peak load pricing
A. is designed to move consumers up along their demand curve. B. is usually used when supply is very elastic. C. is designed to encourage more supply rather than to allocate a fixed supply. D. is designed to shift the demand curve of consumers to the left.