Give an example of someone who works in a noncompeting labor market. Explain your choice
A correct answer will be someone with a relatively rare talent or skill that others cannot
duplicate. This keeps entry into the market from occurring and keeps the wage rates high.
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Are stocks and bonds considered part of the investment component of GDP?
What will be an ideal response?
Importing a foreign good increases the __________ the foreign currency and increases the __________ the currency of the importing country in the foreign exchange market
A) demand for; demand for B) demand for; supply of C) supply of; demand for D) supply of; supply of
Most of the migration in the world involves people who are moving from countries with relatively ____ GDP per capita to countries with relatively _____ GDP per capita.
a. high; low b. low; low c. low; high d. high; high
When Susan Sneed paid Ralph Mentz three jars of homemade jam for repairing her rocking chair
a. GDP rose b. the money supply increased c. M1 rose but M2 fell d. currency was reduced e. an economic transaction occurred