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In year 1 the CPI is 175, and in year 2 the CPI is 189. If Dennis’s salary was $82,000 in year 1, what is the minimum salary he must earn in year 2 to “keep up with inflation”?

In which phase of the business cycle does a recession occur?

Which of the following is descriptive of the law of diminishing marginal utility?

Corporate profits are the largest component of national income.

Please refer to Maxine’s & Daisy’s PPFs in Question 16. Who has an absolute advantage in pies?

Among the ways to be classified as unemployed by the Bureau of Labor Statistics, a person must be not working,

In the calculation of national income, dividends paid to stockholders are part of

Look at the following data: durable goods = $300 billion; nondurable goods = $450 billion; services = $900 billion; fixed investment + inventory investment = $200 billion; government purchases = $400 billion; exports = $40 billion; imports = $85 billion. GDP is equal to

Please refer to these PPFs for Questions 16-21. Maxine and Daisy are both bakers that make tarts and pies.  They have the same resource: 5 lbs of flour/week.  These are their weely PPFs.   Who has an absolute advantage in tarts?

Unemployment that arises as a result of the time it takes for unemployed people to locate a job utilizing their transferable skills is called __________ unemployment.