In the above table, what is the maximum price that consumers are willing to pay for the 200th brownie?
A) 0
B) 20¢
C) 60¢
D) 80¢
D
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Economists agree that the CPI
A) is a near perfect measure of the cost of living. B) has no relation to the cost of living. C) is a possibly biased measure of the cost of living. D) almost always shows the cost of living rising less rapidly than is the case in reality. E) overstates inflation by about 4.1 percentage points a year.
A decrease in net taxes: a. increases GDP as much as an equal decrease in government purchases. b. increases GDP less than an equal increase in government purchases. c. decreases GDP more than an equal decrease in government purchases. d. changes GDP in an unpredictable manner
e. has no effect on GDP.
In the U.S., automobile pollution is regulated by:
A. command and control. B. an optimal pollution tax. C. marketable pollution permits. D. a subsidy for cars.
Which of the following will tend to occur as a result of a reduction in the proportion of a country's workers who have indexed wages?
A) the unemployment rate will be relatively low. B) the unemployment rate will be relatively high. C) the inflation rate will be relatively low. D) a given change in the unemployment rate will cause a relatively smaller change in the inflation rate. E) none of the above