In periods of high inflation, real wages change even if nominal wages remain constant.
a. true
b. false
a. true
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Use the following table to answer the next question.Total ProductTotal Fixed CostTotal Variable Cost0$150$0115050215075315010541501455150200615027071503608150475915062010150800Based on the cost data given, which of the following price-quantity tables correctly represents the firm's short-run supply schedule?(1)(2)(3)(4)PQsPQsPQsPQs$201$200$200$203302300300304453454450455604605600606755756755757956957956958120712081207120915081509150815010
A. Table (1) B. Table (2) C. Table (3) D. Table (4)
If GDP included the value of leisure time, the value of U.S. GDP would most likely increase
Indicate whether the statement is true or false
Figure 11-6
At its optimal output level, the profit-maximizing monopolist in Figure 11-6 will earn a profit equal to
A. zero. B. (P2? P3)Q. C. P > Q. D. (P5? P6 )Q.
The increase in output that is generated by an additional unit of input is called the:
A. input-output relationship. B. production function. C. marginal product. D. resource product.