European Union labor costs exceed U.S. and British labor costs primarily because
a. worker productivity is lower in the EU
b. union wages are higher in the EU
c. layoffs and plant closings are more restrictive in the U.S. and Britain
d. the amount of paid time off is higher in the EU
e. labor-management relations are better in the EU
d
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You notice that when the inflation rate increases, the interest rate tends to increase. This observation indicates that
A) there might be false causality between inflation and the interest rate. B) higher inflation rates must cause a higher interest rate. C) a scatter diagram of the inflation rate and the interest rate will show a positive relationshi
In comparison to perfect competition, monopoly price-quantity combinations generate
A. a producer surplus that is smaller. B. total revenue to the producer that is smaller. C. a combination of producer and consumer surplus that is smaller. D. a consumer surplus that is larger.
Which of the following contributes to the popularity of the argument that government spending expands employment?
What will be an ideal response?
If Q represents real GDP and P is the price level, then P × Q equals ______.
a. real NI b. real NNP c. nominal NNP d. nominal GDP