One issue with using lifetime earnings as a proxy for human life is that it treats upper-income jobs and hence individuals in those jobs as more valuable than lower-income individuals.
Answer the following statement true (T) or false (F)
True
Using future earnings potential gives high dollar values to life for those in high-income jobs relative to those in low-income jobs and hence suggests that rich people are more valuable than poor people.
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What matters to people is the real value of money or income
Indicate whether the statement is true or false
Which of the following statements is correct?
a. The classical aggregate AD curve can be shifted by monetary and non-monetary factors. b. The classical AS schedule is horizontal while the Keynesian aggregate AS schedule is vertical. c. The Keynesian AD curve only shifts in response to monetary factors. d. The classical aggregate supply schedule slopes upward to the right while the Keynesian aggregate supply schedule is vertical. e. none of the above are correct.
Define a contract
A production possibilities frontier cannot be used to show choice
Indicate whether the statement is true or false