Internal improvements are important to a developing and growing economy
Indicate whether the statement is true or false
True
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A level of GDP cannot be at equilibrium when aggregate demand exceeds output because firms will notice that
A. inventory stocks are building up. B. inventory stocks are being depleted. C. their profits are negative. D. many of their workers have little to do.
In terms of technological progress, economists interpret this as meaning an economy operates more efficiently by producing more output without using any more inputs
Indicate whether the statement is true or false
Karl Marx said that whoever controlled a society's __________ controlled that society.
Fill in the blank(s) with the appropriate word(s).
Which of the following best describes compensating wage differentials?
A. Some jobs are more difficult than others, and the pay for them reflects this. B. Some jobs require more training than others, and the pay for them reflects this. C. Some jobs require more experience than others, and the pay for them reflects this. D. Some jobs require unique abilities, and the pay for them reflects this.