In 1976, the cost of a movie was $4. In 2012, it's $9. If the CPI for 1976 is 56, and 228 for 2012, then we could say the cost of a 1976 movie in 2012 would be:
A. $16.29, so the cost of movies has not increased as much as general inflation.
B. $16.29, so the cost of movies is relatively more in 2012 than it was in 1976.
C. $2.21, so the cost of movies has not increased as much as general inflation.
D. $2.21, so the cost of movies is relatively more in 2012 than it was in 1976.
A. $16.29, so the cost of movies has not increased as much as general inflation.
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Vault cash is equal to $2 million, deposits by depository institutions at the central bank are $1 million, the monetary base is $15 million, and bank deposits are $35 million. Currency held by the nonbank public is
A) $3 million. B) $12 million. C) $15 million. D) $20 million.
The law of comparative advantage explains why
A. individuals choose specialized careers. B. firms specialize in the production of certain goods. C. nations develop strengths in certain industries. D. All of the responses are correct.