If the real wage rate is such that the quantity of labor supplied equals the quantity of labor demanded
A) a full-employment equilibrium occurs.
B) actual GDP equals potential GDP.
C) the supply curve of labor is vertical.
D) Both answers A and B are correct.
D
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A decrease in the real money supply can result from:
A) increase in the nominal money supply or an increase in the price level. B) increase in the nominal money supply or a decrease in the price level. C) decrease in the nominal money supply or an increase in the price level. D) decrease in the nominal money supply or a decrease in the price level.
Explain the main difference between the pay-as-you-go system employed by Social Security and a private pension plan
What will be an ideal response?
Immigrants tend to be ________ skilled labor and ___________ unskilled labor
a. complements with; substitutes for b. substitutes for; complements with c. substitutes for; also substitutes for d. complements with; also complements with
The balance of trade is measured by which of the following expressions?
a. The value of exported goods and services minus the value of imported goods and services b. The value of income receipts on investments minus income payments on investments c. The value of goods exports minus the value of goods imports d. The value of government spending minus the value of all taxes received e. The balance on capital account plus the balance on current account