Last year's price level was 120 and since then there has been a 5 percent inflation. This year's price level is

The Fed influences the interest rate by using which of the following tools?

i. open market operations ii. taxes on bank accounts iii. changes in required reserve ratios A) i only B) ii only C) iii only D) Both i and iii E) i, ii and iii

Determinants of income differences include all of the following EXCEPT

A) age. B) marginal productivity. C) moral hazard. D) discrimination.