Education makes workers aware of the latest production techniques and less receptive to new approaches and methods
Indicate whether the statement is true or false
false
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Suppose that real GDP starts at 100 and grows at a rate of 10 percent per year for two years. In the third year real GDP would be
A) 110. B) 110.1. C) 120. D) 121.
The most economically efficient exchange rate system is one in which
A) residents of a nation can reallocate their resources at minimal costs. B) the central bank in a nation requires the least intervention in domestic money markets. C) the central bank in a nation requires the least intervention in foreign exchange markets. D) real income fluctuations are minimized.
Show what happens to the industry equilibrium when new firms enter a perfectly competitive market in the long run.
What will be an ideal response?
The poverty threshold income level equals the
a. average income of the bottom one-tenth of all income recipients. b. cost of an economical and nutritional food plan for a family multiplied by six. c. cost of an economical and nutritional food plan for a family multiplied by three. d. average income of a family headed by a worker who has been unemployed for six months or more.