A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2005 found a job paying $30,000. The CPI was 1.68 in 2005. The 1972 graduate's job paid ________ in nominal terms and ________ in real terms than the 2005 graduate's job.

A strategy of setting price below the monopoly profit-maximizing price but at the highest level that will still result in a loss for a potential entrant into the market is known as

A) entry pricing. B) contestable pricing. C) limit pricing. D) unlimited pricing.

Which of the following had resulted from the Smithsonian agreement of 1971?

a. Devaluation of the U.S. dollar b. Dissolution of a fixed exchange rate regime c. Appreciation of the U.S. dollar d. Establishment of an equilibrium exchange rate e. Laissez-faire in the foreign exchange market