A worker received $5 for a daily wage in 1930 . What is the value of that wage today if the CPI was 17 in 1930 and is 230 today?

Suppose that the elasticity of demand for insulin is 0.1, the elasticity of demand for oranges is 1.2, and the elasticity of supply for insulin and oranges is 0.4

If the government imposes a 10 percent tax on both insulin and oranges, the decrease in the quantity of oranges is ________ the decrease in the quantity of insulin. A) larger than B) smaller than C) equals to D) not comparable to E) More information is needed to determine how the decrease in the quantity of oranges compares to the decrease in the quantity of insulin.

Specialization and exchange develop under conditions of

A) massive ignorance. B) a total conflict of interests. C) coercion and exploitation. D) none of the above.