Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the accompanying table.Number of Mugs Per DayTotal Cost Per Day0$101$142$193$254$325$406$49 Chris's fixed cost is ________ per day.
A. $10
B. $39
C. $0
D. $49
Answer: A
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Last year's price level was 120 and since then there has been a 5 percent inflation. This year's price level is
A) 125. B) 126. C) 130. D) none of the above.
Currency substitution means
(a) use of money instead of barter. (b) use of countertrade instead of money. (c) use of foreign exchange instead of domestic currency. (d) all of the above. (e) none of the above.
Describe the effect of the 2008-2009 global financial crisis on the Swiss franc and the central bank's efforts to respond to the resulting problems
What will be an ideal response?
The wage of a known high-quality worker, wh, is $10,000. The wage for a known low-quality worker, wl, is $4,000. The share of the work force that is of high quality, s, is 0.5. For what value of the cost, c, of a college education that serves only as a signal of a high-quality worker does a pooling equilibrium exist?
A) c > $3,000 B) c < $3,000 C) c < $1,000 D) c = $2,500