From 2009 to 2013, the price level in the U.S. has increased by 8.3 percent. This implies that the price index in 2012 was:
a. 108.3.
b. 183

Other things held constant, higher saving rates lead to

A) increases in the number of hours workers work. B) decreases in real per capita GDP. C) a lower standard of living. D) higher living standards.

Consider the following situation. Tuition at State University is $10,000 per year. Each of the students listed below paid their own tuition bills. Who among them incurred the greatest sunk cost?

A) The student who received a two-year associate's degree B) The student who took five years to complete the bachelor's degree C) The student who took ten years to complete the bachelor's, master's, and Ph.D. degrees D) The student who dropped out during their first semester E) The student who dropped out after their third year