The poor, in considering a job offer, face constraints that middle-class job seekers are not subject to
Indicate whether the statement is true or false
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Gladys agrees to lend Kay $1,000 for one year at a nominal rate of interest of 5 percent. At the end of the year prices have actually risen by 7 percent
a. Gladys earns extra real income. b. Kay loses extra real income. c. Kay receives extra real income. d. Neither party gains or loses if the loan is repaid.
Which of the following would be an expected result of substantially higher wages in the U.S. automobile industry?
a. an increase in the real wages of workers outside the industry b. an increase in the price of automobiles produced in the United States c. a reduction in the demand for foreign-produced automobiles d. an increase in the profit rate of U.S. automobile producers
If a country has a trade surplus
a. it has positive net exports and positive net capital outflow. b. it has positive net exports and negative net capital outflow. c. it has negative net exports and positive net capital outflow. d. it has negative net exports and negative net capital outflow.
What pattern would you observe in an economy in which aggregate demand is increasing but in which long-run aggregate supply remained the same?
A. secular deflation B. inflation accompanied by declines in real GDP C. inflation accompanied by no change in real GDP D. a decline in consumption spending