An increase in education and training
A) increases labor productivity.
B) increases aggregate hours.
C) decreases real GDP growth.
D) increases the employment-to-population ratio.
A
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Which of the following groups within the Federal Reserve System is primarily concerned with public relations?
A) The Federal Open Market Committee B) The Federal Advisory Council C) The Federal Reserve Bank presidents D) The Board of Governors
Sharecropping successfully replaced the slavery system
Indicate whether the statement is true or false
When constructing an economic model, economists
a. rely mostly on their own value judgments and ignore the far more complex world of facts b. always try to duplicate reality by including all available information c. use assumptions that are true for the individual but never true for the whole economy d. must rely on simplifying assumptions that abstract from the complexity of the real world e. are primarily concerned with making realistic assumptions
The phenomenon that describes how transfer programs, which significantly reduce the adversities of poverty, also reduce the opportunity cost of choices that often lead to poverty is known as
a. the implicit marginal tax rate. b. Gibson's paradox. c. the Phillips curve d. the Samaritan's dilemma.