The real wage in Fantasyland has been constant since 1950. The nominal wage in 2015 was $100, and the Consumer Price Index (CPI) was 200 in 2015. What was the nominal wage in 2002 if the CPI was 50 in 2002?
A) Nominal wage = $25
B) Nominal wage = $400
C) Nominal wage = $100
D) Nominal wage = $250
A
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A) providing funds to banks in exchange for stock. B) permitting banks to sell commercial bonds to the Federal Reserve Bank. C) allowing banks to double any outstanding claims for federal deposit insurance reimbursements. D) allowing domestic banks to be taken over by foreign banks.
An argument in favor of multilateral trade liberalization (multilateralism) over preferential trade agreements (regionalism) is that multilateralism results in less trade diversion
Indicate whether the statement is true or false
Determining the optimal level of military expenditures is easy because the preferences of the median voter a reflected in the vote for president
a. True b. False
A common resource is best described as a resource where
A) there is a positive externality in consumption. B) there is a negative externality in consumption. C) there is a positive externality in production. D) there is a negative externality in production.