It is true that __________ changes in velocity cause __________ changes in real GDP
A) small; no
B) large; no
C) small; large
D) large; small
C
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In 1982, the retirement age was raised in such a manner that it is 65 for everyone born before 1938
A. and 70 for everyone born in 1960 or after, with a gradual increase in between. B. and 67 for everyone born in 1960 or after, with a gradual increase in between. C. and 70 for everyone else. D. and 67 for everyone else.
Because of the book, The Other America, Michael Harrington was important in beginning the
a. Peace Corps. b. "War on Poverty." c. regulation of industry. d. Environmental Protection Agency.
Below are pairs of GDP growth rates and unemployment rates. Economists would be shocked to see most of these pairs in the U.S. Which pair of GDP growth rates and unemployment rates is realistic?
a. 10 percent, 1 percent b. 2 percent, 12 percent c. -1 percent, 8 percent d. -2 percent, 2 percent
Which statement is false?
A. A firm's marginal revenue product curve for labor is its demand curve for labor. B. Most desirable jobs are in the primary labor market. C. Virtually no one today earns economic rent. D. None of these statements are false.