Inflation adjusted hourly wages for the average hourly worker is _______ today than it was in 1973.



A. higher
B. lower
C. about the same


B. lower

Economics

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If net exports decrease by 250 and the mpc is 0.75, equilibrium aggregate output

A) increases by 1000. B) increases by 750. C) decreases by 750. D) decreases by 1000.

Economics

The U.S. Constitution established the orderly sale of the western lands

Indicate whether the statement is true or false

Economics

If the price elasticity of demand for a good is 0.5, then a 5 percent increase in price results in a

a. 0.1 percent decrease in the quantity demanded. b. 1 percent decrease in the quantity demanded. c. 2.5 percent decrease in the quantity demanded. d. 10 percent decrease in the quantity demanded.

Economics

Refer to the above diagram. Assume that G and T1 are the relevant curves, the economy is currently at B, and the full-employment GDP is A. This economy has a(n):

A. cyclically adjusted budget deficit. B. actual budget surplus. C. cyclically adjusted budget surplus. D. actual budget deficit.

Economics