Samuelson and Solow argued that when unemployment is high, there is
a. upward pressure on wages and prices.
b. upward pressure on wages and downward pressure on prices.
c. upward pressure on prices and downward pressure on wages.
d. downward pressure on wages and prices.
d
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Holding other factors constant, if oil prices rise relative to the prices of other products, then the real wages of oil workers will ________ and employment of oil workers will ________.
A. increase; increase B. decrease; not change C. increase; decrease D. decrease; increase
An international financial crisis is most often caused by
A) foreign investments and loans being withdrawn from a nation. B) a drop in the value of the U.S. dollar. C) a nation's central bank lowering domestic interest rates. D) a government refusing to pay its dues to the United Nations.
Which one of these is not a characteristic of capitalism?
A. Central planning B. Private property C. The price mechanism D. Competition
Use supply and demand analysis to explain what is most likely to happen to price and quantity in a competitive market for a crop such as lettuce, tomatoes, or oranges, when extreme weather destroys a large portion of the crop
Please provide the best answer for the statement.