When there is an increase in the wages the banking industry offers accountants, what happens to the supply of accountants available to other industries?
A) The supply to other industries increases.
B) The supply to other industries falls.
C) The supply curve for other industries shifts to the right.
D) no change
B
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How are final goods and services valued when measuring nominal GDP?
A) at producer cost B) at base year prices C) at foreign exchange parity D) at current market prices E) at factor market prices
An economic model will produce poor predictions if it includes unrealistic assumptions
a. True b. False
What evidence does the Volcker disinflation provide concerning the importance of inflation expectations to the costs of disinflation?
If Bart's money wages doubled from 2013 to 2018 and the consumer price index rose by 50%, we would know that Bart's real wages
A. fell by 50%. B. stayed about the same. C. rose by less than 50%. D. doubled.