When the price of a good increases, what would we expect to see in the markets for its substitutes?
A. Higher prices and increased sales
B. Lower prices and increased sales
C. Higher prices and decreased sales
D. Lower prices and decreased sales
Answer: A
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The table above has information about the CPI, nominal wage rate, and nominal interest rate for the country of Syldavia for the years 2010 to 2012. The reference base year is 2010. The real wage rate in Syldavia during 2011 was
A) $14.00. B) $15.00. C) $15.79. D) $14.22. E) $14.25.
The use of strategic bombing by the Allies during World War II:
a. caused a marked decrease in Axis munitions production. b. caused Germany to divert significant resources to air defense. c. used the various air forces as an aid to the ground or sea forces. d. was intended to attack the civilian population. e. Only b and d are correct.