Pauline is offered a Job in Minneapolis that pays $80,000 . She is offered a similar job in Louisville that pays $71,200 . Which pair of CPIs would ensure that the two salaries have the same purchasing power?
a. 90 in Minneapolis and 83 in Louisville
b. 90 in Minneapolis and 72 in Louisville
c. 100 in Minneapolis and 89 in Louisville
d. 105 in Minneapolis and 90 in Louisville
c
Economics
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Suppose Billy owns a hair salon in Dallas. He has one large hair dryer for which he paid $1,000. If he can sell the dryer one year later for $800, his total economic depreciation equals
A) $1,000. B) $200. C) $800. D) $1,800. E) None of the above answers is correct.
Economics
For a necessity good, the price elasticity of demand is: a. close to zero
b. close to 1. c. greater than 1. d. close to infinity.
Economics