The tables above show the labor market and the production function schedule for the country of Pickett. An increase in population changes the labor supply by 20 billion hours at each real wage rate. Potential GDP ________
A) does not change
B) decreases to $3 trillion
C) increases to $50 trillion
D) increases to $18 trillion
D
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In a graph, a straight line has a negative slope if the line
A) is vertical. B) is horizontal. C) falls from left to right. D) rises from left to right. E) shows a trend.
Earnings differentials cannot be explained at all by differences in productivity
a. True b. False Indicate whether the statement is true or false
Concerns about the bankruptcy of an appliance manufacturer diminish after a new CEO is appointed and some of the company's less productive factories are sold. What type of risk for bondholders falls? What happens to the interest rate on this company's bonds?
The diamond/water paradox is only true in theory, but no real-world examples have yet to be discovered.
Answer the following statement true (T) or false (F)