Over the last 50 years, how has
a. the labor force participation rate changed?
b. the men's and women's labor force participation rates changed?
a. Over the past 50 years, the overall labor force participation rate increased.
b. Over the past 50 years, the men's labor force participation rate decreased and the women's labor force participation rate increased.
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Define the following terms: a) risky outcome. b) probability
What will be an ideal response?
If firms pay efficiency wages, they pay wages that
A) are mandated by the government. B) will eventually lower the unemployment rate. C) motivate workers to increase their productivity. D) are lower than average to ensure maximum profit.
Increases in the prices of services due to improvement in its quality indicate a(n) _____
a. decline in productivity. b. decline in real GDP. c. increase in output. d. decline in manufacturing output. e. increase in technological progress.
The position of the SRAS curve depends on:
A. the expected rate of inflation. B. the actual rate of inflation. C. the rate of nominal GDP growth. D. the long-run real growth rate.