Stagflation is defined as a period when real GDP ________ and the price level ________
A) is constant; rises rapidly
B) decreases; increases
C) increases; increases
D) decreases; decreases
E) increases; decreases
B
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The above table shows some national income accounting data for a nation. In this nation, gross domestic product is equal to ________ billion
A) $2,000 B) $2,300 C) $2,500 D) $2,800
Refer to Table 4-4. If a minimum wage of $9.50 is mandated there will be a
A) shortage of 20,000 units of labor.
B) surplus of 10,000 units of labor.
C) shortage of 10,000 units of labor.
D) surplus of 20,000 units of labor.
Which type of compensation method does NOT involve a performance bonus?
A. Profit sharing B. Piece rate C. Revenue sharing D. None of the answers are correct.
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. After firms can respond to the payroll tax, the workers will take home a per-hour wage of
A. $12. B. $10. C. $7. D. $5.