If the CPI today is 120 and the CPI five years ago was 80, then something that cost $1 five years ago would cost $1.50 in today's prices
a. True
b. False
Indicate whether the statement is true or false
True
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Scarcity affects
A) only rich people. B) only poor people. C) only middle income people. D) all people.
Jack buys a computer from Sam, knowing fully well that the technology used in it is obsolete. In this case, the trade is
A. beneficial to both parties. B. beneficial only to Sam. C. beneficial only to Jack. D. not beneficial to either of them.
If China experienced capital flight, the supply of Chinese yuan in the market for foreign-currency exchange would shift
a. left, which would make the real exchange rate of the Chinese yuan appreciate. b. left, which would make the real exchange rate of the Chinese yuan depreciate. c. right, which would make the real exchange rate of the Chinese yuan appreciate. d. right, which would make the real exchange rate of the Chinese yuan depreciate.
Your teacher decides to play a game where every student must contribute a dollar. All money collected is distributed at the end of the game among the students. This is an example of a
A. positive-sum game. B. zero-sum game. C. strategy. D. negative-sum game.