When spending is less than production, inventories are higher than what producers expected.
Answer the following statement true (T) or false (F)
True
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Labor unions cause unemployment because the union contract wage is set
A) below the market wage, causing a shortage of labor. B) above the market wage, causing a surplus of labor. C) above the market wage, causing a shortage of labor. D) below the market wage, causing a surplus of labor.
During the past decade, India has invested about 22% of its GDP while China's investment rate has been double that of India's. India's annual growth rate has been about 6% while that of China has been about 9%. What conclusions can you draw?
What will be an ideal response?
Suppose you observe an increase in the equilibrium price of coffee and a decrease in the equilibrium quantity of coffee. Of the options listed below, this is most consistent with:
A. a decrease in consumer income assuming coffee is a normal good. B. an increase in consumer income assuming coffee is a normal good. C. a decrease in the cost of producing coffee. D. an increase in the cost of producing coffee.
Output growth is another name for labor productivity growth.
Answer the following statement true (T) or false (F)