Andrew is offered a job in Little Rock, where the CPI is 80, and a job in New York, where the CPI is 125. Andrew's job offer in Little Rock is for $42,000. How much does the New York job have to pay in order for the two salaries to represent about the same purchasing power
What will be an ideal response?
$65,625
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The above table shows the marginal benefit from submarines for the only two citizens of a country. Suppose submarines cost $175 a piece. Politician A proposes 2 submarines while politician B proposes 4
Assuming that both Bobby and Katie pay one half of the resulting taxes and neither is rationally ignorant, which politician will win the election? A) A because she offers voters a lower tax bill. B) A because she offers voters a greater net benefit. C) B because she offers voters a greater total benefit. D) B because she offers voters more submarines.
Cost-push inflation is caused by a leftward shift of the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
Figure 10-6
In Figure 10-6, which graph best illustrates an autonomous increase in consumption spending?
a.
(1)
b.
(2)
c.
(3)
d.
(4)
The production possibilities curve represents
A. the maximum combination of goods and services that can be produced with fixed resources and technology, given efficient use of the resources. B. the maximum amount of labor and capital available to society. C. the maximum rate of growth of capital and labor in a country. D. the combinations of goods and services among which consumers are indifferent.