Mr. Kohl made $44,000 in 2004, the base year. By 2010 he was earning $60,000. If the CPI had risen to 120 by 2010, how much were Mr. Kohl's real wages that year, and by what percentage had they changed?
What will be an ideal response?
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From 2005-2008, the unemployment rate in the United States was significantly different from the rates in France, Germany, and Italy
This is often attributed to the idea that the rate of ________ unemployment in these European countries was ________ than it was in the United States. A) frictional; lower B) structural; higher C) cyclical; lower D) seasonal; higher
The income and substitution effects move in ________ for lenders and in ________ for borrowers
A) the same direction; the same direction B) the same direction; opposite directions C) opposite directions; the same direction D) opposite directions; opposite directions
If you are traveling in China and you purchase a meal that costs 140 yuan and the current exchange rate is 7 yuan to the dollar, then the price of the meal in U.S. currency is
A. $200. B. $20. C. $10. D. $2.
Which definition(s) of the money supply include(s) only items which are directly and immediately usable as a medium of exchange?
A. M1 B. M2 C. Neither M1 nor M2 D. M1 and M2