An increase in the real wage rate will cause
A. the labor demand curve to shift to the left.
B. the quantity of labor demanded to rise.
C. the labor demand curve to shift to the right.
D. a movement along the labor demand curve.
Answer: D
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Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia consume?
A) 50 B) 70 C) 90 D) 120
Is it possible for a country with a relatively large GDP to have a relatively small per-capita GDP?
A) Yes, since the country with a relatively large GDP could also have a relatively large population. B) No, since countries with a relatively large GDP (such as the United States and Japan) also have a relatively high per-capita GDP. C) Yes, but only under the condition that the country "produces" relatively more "bads" than other countries. D) Yes, since government transfer payments may be exorbitantly high in the country with the relatively high GDP. E) There is not enough information to answer this question.
n a straight-line production
a. decreases b. increases c. stays the same d. is indeterminable
When the prices of food and gasoline are added to core inflation, we get:
A. headline inflation. B. core deflation. C. hyperinflation. D. adjusted inflation.