Comparing market values over time has the
What will be an ideal response?
disadvantage that prices change over time.
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A possible benefit of unions is lower turnover among workers, which in turn leads to lower training costs.
Answer the following statement true (T) or false (F)
Suppose we switch the base year from 2000 to 2008. This change in the base year will cause
A) nominal GDP in every year to increase. B) nominal GDP in every year to decrease. C) both nominal and real GDP in every year to decrease. D) real GDP in every year to decrease. E) none of the above
Even though mass transit systems such as buses are available in most cities in the United States, many residents decide to drive to work in their own vehicles because
A) the opportunity cost of riding a bus is too high for them. B) there is no opportunity cost of them to drive. C) they are not rational. D) they do not behave according to the economic way of thinking.
Why do the owners of good-quality used cars stay away from the market for used cars?
What will be an ideal response?