The evidence from wage data allows us to conclude that nonsupervisory workers were economically worse off in 2008 than 1975
a. This conclusion is correct because such workers have been suffering form increasing unemployment since 1975
b. This conclusion is correct because such workers have been receiving an ever-decreasing share of their income in nonwage benefits.
c. This conclusion is correct because nominal wages for such workers have stayed constant since 1975.
d. This conclusion is correct because nominal wages for such workers have fallen since 1975.
e. This is a mistaken conclusion because the CPI overstates inflation.
E
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What will be an ideal response?
The law of increasing opportunity costs causes the production possibilities curve to:
a. be a straight line. b. slope upwards. c. have a bowed-out shape. d. shift inward.
The AD curve will shift to the right if:
a. people become pessimistic about the future of the economy. b. there is a decrease in foreign income. c. the government decreases spending. d. the domestic price level decreases. e. the foreign price level increases.
Reserve requirements for checking accounts are ____ those on time deposits.
A. higher than B. lower than C. the same as