Suppose that the price index in 1999 was 170 and your salary was $44,000. Suppose in 2016 the consumer price index will be 290. What salary will you have to earn in 2016 in order to equal your 1999 real income?
A) $66,000
B) $77,647
C) $75,059
D) $83,209
C
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Refer to Figure 11-7. When the output level is 100 units average fixed cost is
A) $10. B) $8. C) $5. D) This cannot be determined from the diagram.
When the U.S. placed tariffs on French wine, France placed high tariffs on U.S. chickens. This is an example of
A) deadweight losses. B) multilateral negotiations. C) bilateral trade negotiations. D) international market failures. E) a trade war.
Regarding the Interstate Commerce Commission (ICC),
(a) historians agree that it was primarily "captured" by the industry that it was supposed to regulate. (b) historians agree that it was primarily "captured" by passengers and shippers to the disadvantage of the railroads. (c) historians generally agree that it was not "captured" by any group, but rather served the public well. (d) historians do not "agree" on any of the above.
From the graph showing the Phillips curve from 2006 to 2016, we can see that the 2008 financial crisis caused ______.
a. high inflation rates and low unemployment rates
b. low inflation rates and high unemployment rates
c. high inflation and unemployment rates
d. low inflation and unemployment rates