In the last two decades, the Consumer Price Index in the U.S. has typically increased by _____ each year
a. more than 5 percent
b. less than 2 percent
c. 2–4 percent
d. 4–8 percent
c
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You and two partners start a company. However, your partners play no role in running the company. You spend all your time managing the business. The time that you could have spent working for someone else and earning wages instead of running the business is your: a. explicit cost
b. marginal cost. c. sunk cost. d. opportunity cost.
A consumer's preferences provide a ranking of
a. all possible consumption bundles. b. only the consumption bundles that fall on the same indifference curve. c. consumption bundles based their prices. d. consumption bundles based on the consumer's income.
If the nominal interest rate is 4 percent and the real interest rate is 7 percent, then the inflation rate is
a. -3 percent. b. 0.75 percent. c. 3 percent. d. 11 percent.
The fee for overdraft privileges are usually between $______ and $______.
Fill in the blank(s) with the appropriate word(s).