Which will NOT affect the elasticity of demand for labor?
A) the labor intensity of the production process
B) the elasticity of supply for labor
C) the elasticity of demand for the good
D) the substitutability of capital for labor
B
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Describe China's reform path, including the forces that started China's reform efforts and how they continued through the 1980s and early 1990s
What will be an ideal response?
Many countries dropped their use of money-growth targets in the 1980s because
A) they were in severe recessions. B) political opponents claimed money-growth targeting helped the rich at the expense of the poor. C) money demand became unstable. D) it was too difficult to coordinate monetary policy with fiscal policy.
A good that is most likely to be in the producer price index is:
A. light trucks. B. gasoline. C. passenger cars. D. All of these are in the PPI.
Suppose GDP for 2009 was $1,500, wages and salaries were $800, rent payments were $200, consumption was $1000 . and interest payments were $200 . What must the value of profits have been?
a. $200 b. $500 c. $0 d. $100 e. $300