Residential construction is generally included in which category of GDP?
a. consumption
b. investment
c. government expenditures
d. net exports
b
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Economic discrimination and prejudice
a. are synonymous. b. must both exist in statistical discrimination. c. often occur together. d. are mutually exclusive.
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
XYZ Co operates in a competitive market. Its marginal product of labor is 1/L, and it takes the wage and price as given. Derive the firm's short-run demand for labor as a function of w and p. How much labor will the firm hire if w = 2 and p = 10?
What will be an ideal response?
Refer to the figure above. If there is no wage rigidity in the labor market, how much unemployment is created after the labor demand curve shifts to LD2?
A) 30 units B) 0 units C) 20 units D) 10 units