Which of these is a lagging economic indicator?
a. The unemployment rate
b. Personal income
c. Industrial production
d. Total employment
e. Fluctuations in stock prices
a
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Suppose the price level increases by 5 percent and the nominal wages of workers increase by 3 percent during a particular year. This implies that the real wage has: a. declined by 2 percent
b. declined by 8 percent. c. also increased by 2 percent. d. also increased by 8 percent. e. remained constant.
Which of the following is true of households?
a. It consists of the employed members of the family. b. It can comprise of either related members or unrelated individuals. c. It refers to only the owners of rented apartments. d. It comprises of a family of at least four members. e. It generally describes a family that has two earning members.
The NAFTA treaty includes side agreements on ________________, ______________, and _________________.
Fill in the blank(s) with the appropriate word(s).
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher