A person's real wage will fall if the
A) nominal wage falls.
B) price level rises.
C) nominal wage rises.
D) price level falls.
E) a and b
E
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Private property rights are important because:
a. they create incentives for people to improve their standard of living. b. the Constitution says so. c. they allow students to choose their major field of study in college. d. an economy cannot function without them. e. goods cannot be produced without them.
The process of holding a stock and accruing a further return over the second year is called
a. interest b. making money c. interest plus (+) d. compounding e. stock holding
Refer to the diagram, where S d and D d are the domestic supply and demand for a product and P c is the world price of that product. With a per-unit tariff of P c P t , the total amount of tariff revenue collected on this product will be:
A. P a P t times wy.
B. P c P a times x.
C. P c P t times wy.
D. P c P t times z.
In the table above, what price level belongs in space D?
A) 125 B) 130 C) 140 D) 145