In 2011, which country had the highest level of GDP per hour of work?
A. Spain
B. The United Kingdom
C. France
D. Japan
Answer: C
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People base their labor supply on the ________ because they care about ________
A) real wage; what their earnings will buy B) real wage; the equality of money wages and the price level C) money wage; a surplus of labor D) money wage; the amount of labor firms demand
Monetary policy will be most effective when
A) the IS curve is flat and the LM curve is flat. B) the IS curve is steep and the LM curve is flat. C) the IS curve is flat and the LM curve is steep. D) the IS curve is steep and the LM curve is steep.
Since the minimum wage rate began it has typically stayed at about what percentage of the average manufacturing wage?
A. 20-30% B. 40-50% C. 5-10% D. 80-90%
Refer to the information provided in Table 13.2 below to answer the question(s) that follow. Table 13.2Price ($)Quantity10.0019.0028.0037.0046.0055.0064.007Refer to Table 13.2. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $4 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $5; 6 B. $6; 5 C. $7; 4 D. $8; 3