When an individual's wage rises, the income effect tends to:
a. increase hours worked.
b. decrease hours worked.
c. leave hours worked unchanged.
d. an impossible prediction about what will happen to hours worked.
b
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Those who favor smaller government tend to do what in order to make it more difficult for politicians to increase government spending? List at least two methods
What will be an ideal response?
Intraindustry trade is characterized by what two features?
What will be an ideal response?
If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals: a. 8 percent
b. 20 percent. c. 25 percent. d. 32 percent.
A reduction in the real exchange rate indicates that
A) foreign goods are now relatively cheaper. B) foreign goods are now relatively more expensive. C) domestic goods are now relatively more expensive. D) both A and C