What happens to your purchasing power if inflation is less than you anticipated?
A. It decreases.
B. It increases.
C. It devalues your net worth.
D. It won't change much.
Answer: B
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The quantity supplied of a particular good is the amount of the good that
A) households are willing to consume at each particular price. B) firms will actually end up buying at a particular price during a given time period. C) firms are willing to sell at each price during a particular time period. D) households want firms to sell at each price during a particular time period.
Which of the following is a term that is sometimes used to describe markets with low entry barriers and firms that are price searchers?
a. pure competition b. monopoly c. monopolistic competition d. oligopoly
Assume the marginal tax rate is 12 percent for the first $40,000 of income, 28 percent for income between $40,000 and $100,000, and 30 percent for any income over $100,000. If Sarah has taxable income equal to $120,000 for the year, what is her tax bill?
A. $36,000. B. $33,600. C. $34,000. D. $27,600.
The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2010. What is real GDP in 2010?
A) $530 B) $1080 C) $510 D) $210 E) $300