Why have labor-force participation rates for women in the United States increased since World War II while labor-force participation rates for men have decreased?
Causes of the increase in the U.S. women's labor-force participation rate over the past several decades include new technologies that have reduced the amount of time required to complete routine household tasks, improved birth control, and changing political and social attitudes. Causes of the decline in the U.S. men's labor-force participation rate over the past several decades include young men now staying in school longer than their fathers and grandfathers did, older men now retiring earlier and living longer, and more fathers now staying at home to raise their children.
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The cost of production on the “bottom forty” is $100,000 for a given size crop. On the “north forty,” due to erosion of the soil, the cost is $150,000. If both are being farmed by tenants, we would expect the rent on the “bottom forty” to be
A. $50,000 below the rent on the north forty. B. $50,000 above the rent on the north forty. C. different from that on the north forty by an indeterminable amount. D. $50,000, and the rent on the north forty is $50,000.
To study a macroeconomy, we calculate aggregate quantities in real terms because
A) we want to get rid of the illusion of price effects. B) we want to concentrate on the production of real goods, as opposed to services. C) it is then easier to take logarithms. D) it is the only way to reconcile the three approaches to measuring GDP.
The short-run equilibrium output of a competitive firm is found by equating marginal cost with price
a. True b. False Indicate whether the statement is true or false
In a closed economy, each unit of output is either consumed by households or invested
a. True b. False Indicate whether the statement is true or false