Refer to Table 19-18. What is the GDP deflator in 2011 if 2016 is the base year?

A) 187 B) 87 C) 8.7 D) 0.87


B

Economics

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To be effective in raising people's wages, a minimum wage must be set

A) above the equilibrium wage rate. B) below the equilibrium wage rate. C) equal to the equilibrium wage rate. D) below $7. E) either above or below the equilibrium wage depending on whether the supply curve of labor shifts rightward or leftward in response to the minimum wage.

Economics

Which of the following was a result of the many programs introduced as part of the New Deal?

a. a business environment of uncertainty that reduced output and investment b. a speeding up of the economic recovery process once these programs were enacted c. an increase in trade, investment, and output within the business sector d. a steady decline in the unemployment rate

Economics

Explain the basic operations of an economic game

What will be an ideal response?

Economics

Points outside a production possibility frontier represent inefficiency.

Answer the following statement true (T) or false (F)

Economics