Suppose that the consumer price index in Eastlandia rises from 150 to 159 over the past year, and that the city sets its car registration prices so that real prices stay the same. If the cost to register a car was $50 last year, how much would it cost this year, in nominal terms?

For a closed economy with no government, we know that at every level of GDP actual investment equals

A) the difference between planned investment and actual saving. B) the difference between planned saving and actual saving. C) planned investment. D) planned saving.

Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700 Jill's marginal product of labor from the last worker hired equals ________.

A) 10 B) 20 C) 690 D) 700 E) None of the above answers is correct.