Suppose that the wage for teachers decreases relative to other occupations. We know that ________ people will work as teachers, and the total number of hours worked will ________.
A. more; increase
B. more; decrease
C. fewer; increase
D. fewer; decrease
Answer: D
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Starting from equilibrium in the money market, suppose the money supply increases. Other things being equal, this will cause an excess demand for money, leading people to sell bonds
a. True b. False Indicate whether the statement is true or false
Which of the following is included in the calculation of GDP?
a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country. b. The purchase of a new edition of a foreign textbook that was produced in a different nation. c. The purchase of ink and paper supplies by a textbook company for the production of new textbooks. d. The purchase of a used textbook from a friend who took the same class last year.
Which of the following restricts the volume of international trade?
What will be an ideal response?
From 1980 to 2012, the female-male wage ratio in the United States
A. increased modestly from 0.5 in 1980 to almost 0.6 in 2012. B. fell steadily from about 1.0 in 1980 to 0.5 in 2012. C. increased substantially from 0.4 in 1980 to just under 0.7 in 2012. D. increased substantially from 0.6 in 1980 to almost 0.8 in 2012. E. held constant at about 0.7.