At the beginning of 2006 the CPI was 216.2. At the beginning of 2007, it was 225.1. What was the rate of inflation in 2006?
A. 4.1 percent.
B. 8.9 percent.
C. 3.6 percent.
D. 4.9 percent.
Answer: A
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Tom, a government employee, has a defined benefit pension.He has worked for his employer for 35 years before retiring at age 65.His final salary was $85,000
Calculate how much of his final preretirement income a standard defined benefit pension plan would replace.
Suppose the government currently places tariffs and/or other import restrictions on good X. Will imposing a tariff and/or trade restriction on good Y necessarily reduce overall social welfare for the economy?
What will be an ideal response?
In the early 1900s, regulation of the use of child labor
a. was supported by trade unions. b. was first legislated by some states, and later by the federal government. c. was sometimes indirectly accomplished through compulsory school laws. d. through federal legislation was initially struck down by the Supreme Court. e. All of the above.
In general, demand curves for luxuries tend to be price elastic
a. True b. False Indicate whether the statement is true or false