During the expansion phase of a business cycle
a. employment and output are both at a peak
b. employment and output are both rising
c. employment is falling and output is rising
d. unemployment is rising and output is falling
e. employment is rising and output is falling
B
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Refer to the information provided in Table 30.2 below to answer the question(s) that follow.
Table 30.2
Refer to Table 30.2. What is the real wage rate in 2015 using 2016 as the base year?
A. $11.20 B. $10.80 C. $6.65 D. $5.71
Is wage discrimination more likely in competitive or monopolistic markets?
What will be an ideal response?
Refer to Exhibit 2-8. For Maya, the opportunity cost of producing one unit of good Y is ___________ unit(s) of good X.
According to the Bureau of Labor Statistics, the Consumer Price Index was
A. never intended to measure increases in the cost of living, but many use it that way. B. never intended to measure increases in the cost of living and no one uses it that way. C. always intended to measure increases in the cost of living and does precisely that. D. only intended to measure increases in the cost of living for a small segment of society.