This topic contains a solution. Click here to go to the answer

Author Question: The price of a phone call at a pay phone was 5 cents in 1950 and the price of a first-class stamp ... (Read 452 times)

APUS57

  • Hero Member
  • *****
  • Posts: 571
The price of a phone call at a pay phone was 5 cents in 1950 and the price of a first-class stamp was 3 cents. In 2014, the pay phone costs 50 cents for a call and a first-class stamp costs 49 cents. We know that
 
  A) both the nominal and the relative price of phone calls increased from 1950 to 2014.
  B) both the nominal prices of phone calls and first-class stamps increased from 1950 to 2014, but the relative price of stamps increased and the relative price of phone calls decreased from 1950 to 2014.
  C) all prices increased from 1950 to 2014: Nominal prices of phone calls, first-class stamps, and the relative prices of phone calls and first-class stamps.
  D) both the nominal prices of phone calls and first-class stamps increased from 1950 to 2014, but we can't tell if the relative prices increased or decreased without more information.

Question 2

Which of the following topics is a macroeconomic subject?
 
  A) a proposed merger between two companies
  B) the level of sales at a particular department store
  C) increases in the overall price level of the United States
  D) the decision of an automobile manufacturer



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

duke02

  • Sr. Member
  • ****
  • Posts: 312
Answer to Question 1

B

Answer to Question 2

C




APUS57

  • Member
  • Posts: 571
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


juliaf

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

For a complete list of videos, visit our video library