Refer to Table 9-17. Looking at the table above, real average hourly earnings in 2015 were
A) $3.67.
B) $5.63.
C) $10.24.
D) $11.37.
B
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Many eligible voters do not vote, and many who do vote don't read the biographies of candidates before they vote. These are examples of
a. the median-voter model b. representative government c. rational ignorance d. stupidity e. laziness
An increase in aggregate demand due to higher foreign income will cause:
a. domestic equilibrium GDP to increase. b. domestic equilibrium GDP to decrease. c. domestic prices to fall. d. foreign prices to fall. e. foreign equilibrium GDP to fall.
The Classical model
a. is now discredited b. was developed by John Maynard Keynes c. has been completely displaced by the short-run macro model d. helps us to understand the performance of the economy in the long run e. is most useful in helping us to predict when an economic downturn will occur
According to the principle of comparative advantage, all countries can benefit from trading with one another because trade allows each country to specialize in doing what it does best
a. True b. False Indicate whether the statement is true or false