Nominal and real wage rates
A) must always change by the same amount.
B) must always change in opposite directions by the same amount.
C) must always change in the same direction but could change by different amounts.
D) could change in opposite directions.
E) must always change in the same direction, and the nominal wage rate must change more rapidly than the real wage rate.
D
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What happens to a monopoly's revenue when it sells more units of its product?
What will be an ideal response?
Crowding out will be greater
A) if the economy is in recession, rather than at full employment. B) the further equilibrium GDP is below potential GDP. C) the less sensitive consumption spending is to changes in the interest rate. D) the more sensitive investment spending is to changes in the interest rate.
When a market is corrected for externalities, it:
A. is equitable and makes everyone better off. B. is efficient and maximizes surplus. C. needs government regulation to maintain. D. All of these statements are true.
Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.
Figure 33.1Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in the United States is
A. four times as much as that in Canada. B. half as much as that in Canada. C. twice as much as that in Canada. D. the same as that in Canada.