Author Question: If we look at the nominal versus real wage rates paid to Presidents over time, we find that A) ... (Read 27 times)

D2AR0N · **on:** Jun 29, 2018

If we look at the nominal versus real wage rates paid to Presidents over time, we find that

A) the nominal wage has increased and decreased at different times because of inflation.
B) George W. Bush's nominal wage is about equal to the average nominal wage paid all presidents.
C) the real wage rate has steadily increased to 400,000 per year.
D) George Washington was paid a higher real wage rate than Bill Clinton.
E) George W. Bush is the highest paid according to real wage rates.

Question 2

The figure above shows the production possibilities frontier for a country. A combination of 3 million gallons of milk and 3 million gallons of ice cream is

A) unattainable and production efficient.
B) unattainable.
C) attainable and production inefficient.
D) attainable and production efficient.
E) More information is needed to determine if the point is attainable or not.