The euro floats against other currencies, but the member nations of the euro have no separate national money. For this reason, Spain, that uses the euro as its currency is listed under the managed float arrangement
a. True
b. False
Indicate whether the statement is true or false
False
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In the classical model, high unemployment due to a change in aggregate demand
A) can persist for an indefinite period of time. B) will return to its normal level quickly as wages adjust. C) will persist if due to a supply shock but not if due to a demand shock. D) never exists because unemployment can never deviate from its normal level.
For all workers together, real wages grew between _____ and _____ percent between 1820 to 1860
a. 10; 20 b. 40; 60 c. 60; 90 d. 100; 150
Total revenue is:
A. the amount that an individual gets paid over a specified period of time, typically annually. B. the quantity sold multiplied by the price paid for each unit. C. the amount that a firm spends on all inputs that go into producing a good or service. D. the quantity produced multiplied by the cost of producing each unit.
Explain why featherbedding may or may not increase the demand for labor.
What will be an ideal response?