A worker received $5 for a daily wage in 1930, which has the equivalent value of $63.24 today. If the CPI was 17 in 1930 what is the value of the CPI today, rounded to the nearest whole number?
a. 215
b. 134
c. 17
d. 1.3
a
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Which of the following is often described as the most powerful person in the U.S. economy?
A. The president of the United States. B. The Speaker of the House of Representatives. C. The chairman of the House Ways and Means Committee. D. The chairman of the Federal Reserve.
Recall the Application about the supply of shipping services to answer the following question(s).Recall the Application. As the price per ton of cargo drops low enough that it does not cover the AVC of smaller inefficient ships, then the smaller, more inefficient ships will decide to:
A. shut-down. B. raise the price they charge. C. make up for it by raising their speeds. D. make up for it by accepting more cargo.
Which of the following would be classified as a public good?
A) state lotteries B) telephone service C) Internet service subscription D) police protection
A recessionary gap causes national debt to increase because
a. the growth in GDP slows. b. interest on previously incurred debt must be paid. c. recessionary periods require huge buildups of defense materials. d. income tax receipts drop off markedly.