Last year your job at the university cafeteria paid you $9 an hour and the price of a ten-minute long distance call to your girlfriend in California was $4 . This year your cafeteria job pays $9.90 per hour and the ten-minute phone call now costs $4.10 . You are clearly
a. worse off because of inflation.
b. worse off because the phone call is now relatively more expensive.
c. better off because your wage rate went up.
d. better off because the phone call now costs less work.
D
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If the Fed decides that it wants to lower the unemployment rate, it ________ the growth rate of aggregate demand by ________ the growth rate of money and ________ interest rates
A) accelerates; accelerating; lowering B) reduces; accelerates, lowering C) accelerates; reducing; lowering D) accelerates; reducing; raising E) accelerates; accelerating; raising
If decreasing long-run average cost is inherent in an industry's technology, then only one supplier can satisfy the entire market
Indicate whether the statement is true or false
If an increase in one variable causes a decrease in another variable, this is
A. a negative relationship. B. an independent relationship. C. a dependent relationship. D. a direct relationship.
Explain the term "economics."
What will be an ideal response?