Wages are said to be "sticky downwards" because this promotes good work effort and ensures that workers and firms share the same goals of efficient production and profit maximization
a. True
b. False
Indicate whether the statement is true or false
True
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If the Gini coefficient is 1, this means that __________.
a. the income distribution is completely equal b. the income distribution is completely unequal c. that there is no income distribution
Coercion and force underlie government activity
a. True b. False
A constant contributor to labor productivity growth during the entire 1948-2000 period was
a. capital formation. b. technological change. c. labor force growth. d. government spending.
The present value of $1 million to be received in the future will
a. increase if the interest rate rises. b. increase if the payment is received at a more distant time in the future. c. be greater than $1 million. d. increase if the interest rate were to fall from 8 percent to 4 percent.