The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions
A) increases; does not change
B) increases; increases
C) decreases; increases
D) increases; decreases
E) does not change; does not change
A
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Gold buyers are located in New York and Zurich. If the price of gold is $400 an ounce, the worldwide demand for gold is 10,000 ounces. Also, the price elasticity of demand for gold in New York and Zurich are -3 and -2 respectively
If the slope of each demand curve in New York is the same as in Zurich, then the quantity of gold demanded by dealers in Zurich is A) 10,000/3. B) 5,000. C) 6,000. D) 10,000. E) none of the above
Which statement is true?
A. Our rate of productivity increase was greater in the 1980s than the 1960s. B. The key to productivity growth is an increasing labor force. C. Rising productivity could come about with the same output from fewer units of input. D. We have a higher growth rate than the Chinese even though they have a higher savings rate.
In the long run, changes in equilibrium GDP are most likely to be caused by
a. changes in full-employment output b. open market operations by the Fed c. changes in nominal wages d. contractionary or expansionary fiscal policy e. none of these; long-run equilibrium GDP is a constant
The aggregate supply curve slopes
a. downward because firms can sell more at lower prices. b. downward because firms can hire more workers at lower prices. c. upward because firms want to hire more workers at higher wage levels. d. upward because firms can hire labor at fixed wages for short-run periods.