If we look at the nominal versus real wage rates paid to Presidents over time, we find that
A) the nominal wage has increased and decreased at different times because of inflation.
B) George W. Bush's nominal wage is about equal to the average nominal wage paid all presidents.
C) the real wage rate has steadily increased to $400,000 per year.
D) George Washington was paid a higher real wage rate than Bill Clinton.
E) George W. Bush is the highest paid according to real wage rates.
D
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According to the table, when converted to U.S. dollars, Big Macs cost approximately ________ percent less in the United States than they do in Switzerland
A) 36 B) 42 C) 58 D) 126
A price searcher faces the following demand function: At $7, 6, 5, 4, and $3, the quantity demanded is 300, 400, 500, 600, and 700 units respectively. If the firm's marginal cost is $300 at any level of output, it would maximize net revenues by
A) producing 400 units and charging $6. B) producing 500 units and charging $5. C) producing 600 units and charging $4. D) producing 700 units and charging $3.