The rate of unemployment in a country is unrelated to its level of GDP
a. True
b. False
Indicate whether the statement is true or false
False
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Liabilities are:
A. saving minus investment. B. anything of value one owns. C. the debts one owes. D. current income minus spending on current needs.
Eventually the process of capital deepening comes to a halt as depreciation catches up with total saving
Indicate whether the statement is true or false
Prices, on average, increased in the food market; the demand for food had simply grown faster than supply from the end of the Civil War in 1865 to the beginning of World War I in 1913
Indicate whether the statement is true or false
According to the classical? model, if an excess quantity of labor is supplied at a particular wage? level, full employment will be maintained because.
A. the equilibrium wage rate will rise to stimulate spending. B. wages will fall rapidly to permit businesses to continue hiring everyone who wants to work. C. the government will establish special work programs. D. the government will step in and stimulate spending.