For purposes of calculating the CPI, the apparel category of consumer spending includes the cost of
a. clothing, but not footwear or jewelry.
b. clothing and footwear, but not jewelry.
c. clothing and jewelry, but not footwear.
d. clothing, footwear, and jewelry.
d
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If an economy with extractive institutions allows for political creative destruction:
A) poverty in the economy is likely to increase. B) the growth rate of the economy is likely to decrease. C) new leaders are likely to replace old leaders. D) innovation in the economy is likely to decrease.
Sue is taking an accounting job she was offered that pays $67,000 per year. She also had two other offers, a sales job paying $71,000 per year and a marketing job paying $65,000 per year. What is Sue's opportunity cost of taking the accounting job?
A) $65,000 B) $67,000 C) $71,000 D) $136,000
Poll taxes are:
A. a way to disenfranchise the poor. B. a tax that must be paid in order to cast a vote. C. used to disenfranchise those groups even when the right to vote exists. D. All of these are true.
Suppose Gina gives up a job paying $30,000 a year so that she can start her own pizza business. She takes $100,000 from her savings account (which paid a 6 percent rate of interest) to pay for equipment, materials and labor, and after one year her total revenue is $70,000 . Gina's profit-related income is
a. $70,000 b. $40,000 c. $34,000 d. $30,000 e. $6,000