Real wages usually lag behind the increases in labor productivity.
Answer the following statement true (T) or false (F)
False
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What could cause a decrease in the price level and simultaneously an increase in GDP similar to the 1920s in the United States?
A) a decrease in interest rates B) an increase in interest rates C) a decrease in consumer confidence D) an increase in productivity
According to Okun's Law, the year-to-year change in the rate of unemployment is ________ if the annual growth rate of real GDP is 5%
A) -5% B) 5% C) 2% D) -1%
Explain why international trade is less important to the United States than it is to many other countries
What will be an ideal response?
The stronger that consumer demand is for a good or service, other things being equal,
a. the higher its price. b. the lower its price. c. the more stable its price. d. the less stable its price.