Questions from Macroeconomics

Q: If the CPI is 150 and nominal income is $100,

If the CPI is 150 and nominal income is $100,000, what does real income equal?

Q: Use the law of diminishing marginal utility to explain why demand curves

Use the law of diminishing marginal utility to explain why demand curves slope downward.

Q: Suppose 100 million people are in the civilian labor force and 90

Suppose 100 million people are in the civilian labor force and 90 million people are employed. How many people are unemployed? What is the unemployment rate?

Q: Change the current year prices in Exhibit 1 to $1 for

Change the current year prices in Exhibit 1 to $1 for pens, $28 for shirts, and $32 for a pair of shoes. What is the CPI for the current year based on these prices?

Q: Jim earned an annual salary of $15,000 in 1965

Jim earned an annual salary of $15,000 in 1965. What is this equivalent to in 2005 dollars? (Use Exhibit 2 to find the CPI in the years mentioned.) Data from Exhibit 2: The CPI for 1965 = 31.5 The...

Q: A house cost $10,000 in 1976. What is

A house cost $10,000 in 1976. What is this equivalent to in 2001 dollars? (Use Exhibit 2 to find the CPI in the years mentioned.) Data from Exhibit 2: The CPI for 1976 = 56.9 The CPI for 2001 = 177...

Q: Using the following data, compute; (a) The

Using the following data, compute; (a) The unemployment rate (b) The employment rate (c) The labor force participation rate. The civilian non-institutional population = 200 million number of employe...

Q: Based on the following data, compute (a) The

Based on the following data, compute (a) The unemployment rate (b) The structural unemployment rate (c) The cyclical unemployment rate. The frictional unemployment = 2 percent, Natural unemployme...

Q: Using Exhibit 2, compute the percentage change in prices between

Using Exhibit 2, compute the percentage change in prices between (a) 1966 and 1969, (b) 1976 and 1986, and (c) 1990 and 1999.

Q: Assume the market basket contains 10X, 20Y, and 45Z.

Assume the market basket contains 10X, 20Y, and 45Z. The current-year prices for goods X, Y, and Z are $1, $4, and $6, respectively. The base-year prices are $1, $3, and $5, respectively. What is the...