The figure above shows Ronald's budget line. He has a weekly income of $20, which he spends on hotdogs and hamburgers. Ronald's real income in terms of hamburgers ________
A) depends on the quantity of hamburgers consumed
B) depends on the quantity of hotdogs consumed
C) is $20
D) is 10 hamburgers
D
Economics
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Suppose an economy had an inflation rate of 7 percent last year. This has decreased to 6 percent this year. This means that the economy is: a. suffering from hyperinflation. b. experiencing deflation. c. experiencing disinflation
d. experiencing a wage-price spiral. e. experiencing a decrease in real wage.
Economics
________ is a union's attempt to withhold labor from a firm to halt production
a. Collective bargaining b. Binding arbitration c. Mediation d. Strike
Economics