As additional units of labor hours are employed, holding all other factors constant, along the production function,
A) nominal GDP decreases at an increasing rate.
B) real GDP increases at an increasing rate.
C) real GDP increase at a constant rate.
D) real GDP initially decreases and then starts to increase.
E) real GDP increases at a decreasing rate.
E
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Out of approximately 150 million workers in the U.S. economy, what percentage of the total are paid the minimum wage?
a. Less than 2% b. Approximately 5% c. Approximately 8% d. More than 10%
What is the value of a newly issued 3-year bond with a face value of $5,000 and no coupon payments? Assume the interest rate is 8 percent (0.08) per year
a. $4,629.63 b. $5,000.00 c. $3,969.16 d. $3,756.57 e. $4,545.45
The law of demand is true for most goods in the economy
a. True b. False Indicate whether the statement is true or false
Other things the same, if the U.S. price level rises, then
a. the supply of dollars in the market for foreign-currency exchange increases, and net exports fall. b. the supply of dollars in the market for foreign-currency exchange increases, and net exports rise. c. the supply of dollars in the market for foreign-currency exchange decreases, and net exports fall. d. the supply of dollars in the market for foreign-currency exchange decreases, and net exports rise.