Jack and Diane each buy pizza and paperback novels. Pizza costs $3 per slice, and paperback novels cost $5 each. Jack has a budget of $30, and Diane has a budget of $15 to spend on pizza and paperback novels. Which consumer(s) can afford to purchase 5 slices of pizza and 3 paperback novels?
a. Jack only
b. Diane only
c. both Jack and Diane
d. neither Jack nor Diane
a
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When box office receipts are corrected for inflation, the most popular movie of all time is
a. Star Wars. b. Titanic. c. Gone With the Wind. d. The Sound of Music.
One concern of those who oppose the central bank targeting inflation at zero is that reducing inflation is costly. What is the cost of reducing the inflation rate?
If the Bureau of Labor Statistics changed the way it calculates the consumer price index (CPI) so as to take into account product quality changes and the changing mix of products and services purchased by the average family, the result would most likely
A. show a higher rate of inflation. B. cause an increase in Social Security payments. C. cause higher wage increases for union employees with contracts that specify automatic wage boosts when the CPI rises. D. show a lower rate of inflation.
Suppose the federal government had budget surpluses of $80 billion in year 1 and $120 billion in year 2 but had budget deficits of $10 billion in year 3 and $40 billion in year 4. Also assume that it used its budget surpluses to pay down the public debt
At the end of these four years, the federal government's public debt would have: A. increased by $50 billion. B. increased by $150 billion. C. decreased by $200 billion. D. decreased by $150 billion.