Suppose that the U.S. dollar (USD) and Singapore dollar (SGD) exchange rate is USD 1.00 for SGD 1.80. Then a Singaporean coffee maker priced at SGD 90 dollars would cost an American consumer how many U.S. dollars?
A. USD 40
B. USD 50
C. USD 60
D. USD 70
B. USD 50
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The table above gives the CPI for a nation. Based on the table, we can determine that the reference base period is
A) 1994. B) 1996. C) 1998-2000. D) 2002. E) More information about when the Consumer Expenditure Survey was undertaken is needed to answer the question.
To say that "supply increases" for any reason, means there is a
A) movement rightward along a supply curve. B) movement leftward along a supply curve. C) shift rightward in the supply curve. D) shift leftward in the supply curve.
Two cities face identical prices for their housing. City A decided to be a pollution free city "Clean town" and all the factories would locate in city B "Smogville", in equilibrium, we expect to see
a. a compensating differential between the prices of housing between the two cities b. the prices of housing in both the cities to be identical c. The prices of housing in B to be higher d. All of the above
The payroll tax and the income tax differ in that:
A. the employer pays the payroll tax, and the individual pays the income tax. B. the payroll tax is tied directly to specific programs while the personal income tax goes toward general government revenue. C. employers have to pay both payroll and corporate income taxes, and individuals only have to pay personal income tax. D. the employer pays the payroll tax, but the income tax burden is shared between employer and employee.