A change in the real wage rate measures the change in the
A) price of goods and services that an hour's work can buy.
B) nominal wage of an hour's work.
C) quantity of goods and services that an hour's work can buy.
D) inflation rate affecting the labor market.
E) CPI.
C
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The economic boom of the early 1940s resulted mostly from
a. increased government expenditures. b. falling prices of oil and other natural resources. c. an increase in the growth rate of the money supply. d. rapid developments in transportation, electronics, and communication.
The Friedman-Phelps analysis shows that a negative relationship between inflation and unemployment holds
A. even when the natural rate of unemployment changes. B. even when expected inflation changes. C. as long as the expected inflation rate and the natural rate of unemployment are approximately constant. D. even if both the expected inflation rate and the natural rate of unemployment change.
When players cannot achieve their goals because they are unable to make credible threats or promises, the situation is called a:
A. failure of dominant strategies. B. commitment problem. C. Nash equilibrium. D. prisoner's dilemma.
Kroger's grocery chain wants to finance the purchase of a new warehouse. It decides to sell bonds
a. Kroger's plans to use equity financing and its action is part of the demand for loanable funds. b. Kroger's plans to use equity financing and its action is part of the supply of loanable funds. c. Kroger's plans to use debt financing and its action is part of the demand for loanable funds. d. Kroger's plans to use debt financing and its action is part of the supply of loanable funds.