Data on DVD sales for three different years can best be compared by using a
a. crystal ball
b. bar graph
c. psychic
d. pie graph
Ans: b. bar graph
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What most accurately describes what happened to earnings in the US between 1914 and 1920?
a. Both nominal and real earnings increased substantially. b. Nominal and real earnings dropped significantly as the World War I triggered a recession. c. Nominal earnings increased slightly, but real wages decreased because of the large inflation. d. A period of deflation led real earnings to increase even though nominal earnings had decreased slightly.
The role of unions is:
A. unnecessary if the market does a good job of determining fair wages. B. to provide firms with a mechanism to more efficiently fire less productive workers. C. gaining power in the United States. D. All of these statements are true.
Rising wages can be explained by which of the following?
A. Labor supply is highly sensitive to changes in labor productivity. B. Labor demand increases more rapidly than labor supply. C. Labor demand is stable and predictable. D. Labor supply increases more rapidly than labor demand.
Which of the following is NOT an example of technological progress?
A. builders constructing a new office building that uses less energy B. an increase in Florida's orange crop resulting from a mild winter C. the invention of wireless internet access D. the development of bluetooth headsets