Which of the following represents the relationship between disposable income (DI), consumption (C), and saving (S)?
A. DI = C * S
B. DI = C + S
C. DI = C - S
D. DI + C = S
Answer: B
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When the profits of firms that produce import-competing goods and services fall, these firms ________ their workforce, unemployment in these industries ________, and wages ________
A) cut; decreases; rise B) cut; decreases; fall C) cut; increases; fall D) expand; increases; rise E) cut; increases; rise
The Pension Benefit Guarantee Corporation performs a role similar to that of
A) the Federal Reserve System. B) the Comptroller of the Currency. C) the FDIC. D) the Office of Thrift Supervision.
Assuming that good "x" is measured on the x-axis and good "y" is measured on the y-axis, if the utility for the two goods "x" and "y" can be measured as U = y, then it can be concluded that
A) "x" and "y" are perfect complements. B) "x" is a "bad". C) the indifference curves on the x,y graph are upward sloping. D) the indifference curves on the x,y graph are horizontal.
Labor productivity equals
A) the total production of labor. B) real GDP. C) real GDP divided by the amount of human capital. D) real GDP per hour of labor. E) the quantity of labor hours divided by real GDP.