The Total Cost of Three Automobile Batteries Is $86

question 159

Essay

The total cost of three automobile batteries is $86. The most expensive one is three times the cost of the least expensive. The third is $6 more than the least expensive. Find the cost of each battery.
The cost of the least expensive = $ __________
The cost of the most expensive = $ __________
The cost of the third one = $ __________

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Definitions:

Political Business Cycle Theory

A theory suggesting that elected officials may manipulate economic policies to produce favorable economic conditions ahead of elections to increase their chances of reelection.

Discount Rate

The interest rate on the loans that the Fed makes to banks.

Re-Elected

The act of being elected again for the same position or office after completing a term.

Short-Run Phillips Curve

An economic model suggesting an inverse relationship between the rate of inflation and the unemployment rate in the short term.