Multiple Choice
If 10 years ago, the price of a movie ticket was $5 and the average hourly wage was $10, and today the price of a movie ticket is $8 and the average hourly wage is $20, then
A) movies are now relatively cheaper in terms of work hours.
B) movies are now relatively more expensive in terms of work hours.
C) the relative price of movies has remained constant.
D) workers now need to work longer hours to earn one movie ticket.
Correct Answer:
Verified
Correct Answer:
Verified
Q98: The amount of goods and services the
Q99: Cyrus just graduated from flight school.He received
Q100: If the rate of technical progress decreases,
Q101: In the analysis of potential GDP, labor
Q102: Distinguish between real rate of interest and
Q104: Some economists believe that one of the
Q105: The nominal interest rate is the sum
Q106: An increase in the capital stock would
Q107: Taxes on capital gains and interest decline
Q108: The program of unemployment insurance in the