You know that a candy bar costs sixty cents today. You also know the CPI for 1962 and the CPI for today. Which of the following would you use to compute the price of the candy bar in 1962 prices?
a. sixty cents (today's CPI - 1962 CPI)
b. sixty cents (1962 CPI - today's CPI)
c. sixty cents (today's CPI / 1962 CPI)
d. sixty cents (1962 CPI / today's CPI)
d
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Refer to the figure above. Which apartment is the best feasible choice for the individual?
A) Apartment 1 B) Apartment 2 C) Apartment 3 D) Apartment 4
A marginal cost pricing rule sets marginal cost equal to
A) minimum average variable cost. B) price. C) average cost. D) marginal revenue. E) the smaller of price or marginal revenue.
Which of the following is assumed to be constant along a demand curve for pet dogs?
a. the quantity of dogs demanded each time period b. the price of dogs c. the price of cats d. the number of dogs people want to buy
The neoclassical model focuses on the underlying determinants of output and employment in markets, and thus tends to put more emphasis on
a. inflation and recessions. b. economic growth and how labor markets work. c. economic growth and how labor markets work. d. economic growth and inflation.