Over the last 50 years, has the ratio of household production to gross domestic product in the United States increased or decreased? Consider the effect of the increased number of women working outside the home, and the effect of advances in
technology in household production such as microwaves, coffee makers, power tools, etc.
"Household production" refers to goods and services people produce for themselves. It is not clear whether the ratio of household production to gross domestic product has increased or decreased. More women working outside the home has decreased the ratio of household production to GDP, but the technological advances at home have allowed people to produce more household production in less time.
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Which statement is false?
A. Most jobs in defense plants during World War II were held by white males. B. The federal government instituted wage and price controls during World War II. C. Very little new housing was built during the Great Depression and World War II. D. None of the statements are false.
The size of the labor force is
A) equal to the size of the population. B) equal to the working-age population. C) less than the number of employed workers if the number of unemployed workers is small enough. D) less than the number of unemployed workers if the number of employed workers is small enough. E) greater than the number of employed workers as long as there are some unemployed workers.
If the bank agrees to make a loan at a 7 percent interest rate and the inflation rate is 3 percent, then 4 percent is the ________ rate.
A. nominal interest B. real interest C. disinflation D. hyperinflation
A payoff matrix shows:
A. the payoff to being a perfectly competitive firm. B. the demand curve facing a firm when there are only two firms. C. the payoff to being a monopolist. D. the payoffs for each possible combination of strategies.