If the price level rises but the money wage rate does not, then firms will hire ________ labor and the quantity of real GDP supplied will ________
A) more; increase
B) the same amount of; not change
C) less; decrease
D) more; not change
E) less; increase
A
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Positive economic analysis answers what question?
What will be an ideal response?
Why do societies face a tradeoff between the size of the economic pie and the degree of equality with which it is shared?
What will be an ideal response?
The Gini coefficient for the United States in 1980 was 0.403. In 2014, the coefficient was equal to 0.480. This means that
A) income inequality increased from 1980 to 2014. B) there was a decrease in the amount of government transfer payments from 1980 to 2014. C) cuts in federal income tax rates in the early 1980s and 2001 helped to reduce income inequality. D) per capita income in the United States rose from 1980 to 2014.
Approximately what percentage of U.S. health care spending is financed by public insurance?
A. 17 percent. B. 33 percent. C. 50 percent. D. 83 percent.