This table shows the price-level adjustment as compared to the United States. CountryPrice-Level AdjustmentAustralia-0.50China0.25Mexico0.34United States0.00According to the information in the table shown, if someone were earning $20,000 in Mexico, approximately what would he need to earn in the United States to enjoy the same amount of goods and services?
A. $30,303
B. $20,030
C. $15,000
D. $35,000
Answer: A
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A competitive firm Select one:
a. and a monopolist are price makers. b. and a monopolist are price takers. c. is a price maker, whereas a monopolist is a price taker. d. is a price taker, whereas a monopolist is a price maker.
If hiring more workers results in each additional worker contributing successively smaller amounts of output, then which of the following is present?
a. diminishing profitability b. diminishing total product c. diminishing marginal product d. Both b and c are correct.
Suppose there is a simultaneous central bank sale of bonds and tax increase. We know with certainty that this combination of policies must cause
A) an increase in the interest rate (i). B) a reduction in i. C) an increase in output (Y). D) a reduction in Y.
Refer to the information provided in Table 8.6 below to answer the question(s) that follow.
Table 8.6
Refer to Table 8.6. What is the total cost of producing zero units of output?
A. $0 B. $15 C. $30 D. indeterminate from the given information