Purchases of existing commodities, such as gold and precious gems, are considered investment spending by economists.
a. true
b. false
b. false
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Suppose that average labor productivity in Country C is $6,000, and that Countries C and A have the same real GDP per capita. Based on the information in the table, what must be the average labor productivity in Country A?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. $2,400 B. $1,800 C. $5,000 D. $7,200
Explain why the short-run aggregate supply curve is a relatively flat, horizontal line
What will be an ideal response?
A chief reason firms give employees bonuses based on the firm's profit is to cope with
A) the tax laws. B) the law of diminishing returns. C) the principal-agent problem. D) unions.
A characteristic of stock prices is that ________
A) they tend to go up on the upswing of the cycle B) they tend to go down on the downswing of the cycle C) they are a leading indicator D) all of the above E) none of the above