Refer to the table above. The relative price of beer in terms of wine in B is
A) $4.50.
B) 2.
C) 4.5.
D) $2.00.
C
You might also like to view...
Which of the following is not a determinant of supply?
a. improvements in technology b. an increase in the number of consumers c. changes in the profitability of producing other products d. a change in the cost of labor
Historically, the largest U.S. federal budget deficits as a percentage of GDP in the 20th century occurred during
A) the Great Depression. B) the Vietnam war. C) World War I and World War II. D) 1970-1997. E) 1998-1999.
Which of the following will most likely accompany an unanticipated increase in short-run aggregate supply?
a. an increase in real GDP b. an increase in the general level of prices c. an increase in the actual rate of unemployment d. an increase in the natural rate of unemployment
Between 1989 and 1994 the poverty rate went _____.
A. down substantially B. down slightly C. up slightly D. up substantially