A reduction in wage is most likely to:
A) increase worker productivity. B) increase quantity of labor supplied.
C) decrease quantity demanded of labor. D) lower worker productivity.
D
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An increase in the level of structural unemployment will shift the long-run Phillips curve
Indicate whether the statement is true or false
Moneys primary role in the economy comes from the benefits of lowering transactions costs and allowing specialization. This function of money is called
A) store of value. B) medium of exchange. C) standard of deferred payment. D) unit of account.
When break-even investment is subtracted from investment per worker, the result is
A) the change in the capital-labor ratio. B) saving. C) the steady state. D) capital stock dilution.
Economic growth is:
A. about the quality of life for all sectors of society. B. an indicator of individual poverty. C. a measurement of available resources. D. the measure of changes in real GDP.