According to the theory of time allocation, other things constant, the higher the market wage, the higher the opportunity cost of leisure
Indicate whether the statement is true or false
true
Economics
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In the basic Keynesian model, a decrease in transfer payments:
A. increases potential output. B. reduces potential output. C. increases short-run equilibrium output. D. reduces short-run equilibrium output.
Economics
During a recession, the average duration of unemployment tends to
A) be unpredictable. B) be about the same as during an expansion. C) decrease. D) increase. E) remain constant.
Economics
Specialization and trade allow countries to consume beyond their PPFs
Indicate whether the statement is true or false
Economics
The upward and downward movement of aggregate output produced in the economy is referred to as the
A) roller coaster. B) see saw. C) business cycle. D) shock wave.
Economics