According to the information in the table shown, if someone were to make $35,000, she would be able to buy the most goods and services if she lived in:
This table shows the price-level adjustment as compared to the United States.
A. Australia.
B. the United States.
C. Mexico.
D. China.
C. Mexico.
You might also like to view...
A hostile takeover is one opposed by the firm’s existing management.
Answer the following statement true (T) or false (F)
A monopolist would not be able to make a positive profit at any price output combination when
A) marginal cost is less than average total cost for one more unit of output. B) the average variable cost curve is everywhere above the marginal revenue curve. C) the minimum point of the average total cost curve lies to the right of the minimum of the average variable cost curve. D) the average total cost curve is everywhere above the demand curve.
With respect to the consumer price index, which of the following does not serve as an example of how the substitution bias arises? Between 2010 and 2011, the price of a pound of peanuts
a. rises from $0.80 to $1.00 while the price of a loaf of bread rises from $2.00 to $2.50. b. rises from $1.00 to $1.30 while the price of a loaf of bread rises from $2.00 to $2.30. c. remains constant, while the price of a loaf of bread rises from $2.00 to $2.30. d. falls from $1.00 to $0.80 while the price of a loaf of bread falls from $2.00 to $1.80.
____________ is the extra usefulness or satisfaction that a person gets from acquiring one or more unit of a product.
a. marginal utility b. diminishing marginal utility c. income effect d. change in demand