Smith's income was $50,000 in year 1 and $55,600 in year 2. The CPI was 114 in year 1 and 124 in year 2. What was the approximate percentage change in Smith's real income between the two years?
A) -2.2 percent
B) +3.4 percent
C) -1.7 percent
D) +5.6 percent
E) +2.2 percent
E
Economics
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A French citizen lives in Detroit, but works in Windsor, Canada; his income is counted in U.S. GDP
Indicate whether the statement is true or false
Economics
If people have a sudden decrease in confidence in the open economy of the U.S. and no longer want to invest there, the NCO:
A. increases, and the demand for loanable funds curve would shift right. B. decreases, and the demand for loanable funds curve would shift left. C. decreases, and the demand for loanable funds curve would shift right. D. increases, and the demand for loanable funds curve would shift left.
Economics