What most accurately describes what happened to earnings in the US between 1914 and 1920?
a. Both nominal and real earnings increased substantially.
b. Nominal and real earnings dropped significantly as the World War I triggered a recession.
c. Nominal earnings increased slightly, but real wages decreased because of the large inflation.
d. A period of deflation led real earnings to increase even though nominal earnings had decreased slightly.
a. Both nominal and real earnings increased substantially.
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Over the last 50 years,
a. how has the labor force participation rate changed? b. how have the men's and women's labor force participation rates changed?
Specialization and trade do not allow individuals, firms, or even nations to acquire goods that lie beyond their production capabilities
a. True b. False Indicate whether the statement is true or false
If supply of a product increases and demand for the product decreases, equilibrium price will definitely change.
Answer the following statement true (T) or false (F)
A sale of securities by the Fed causes
A. a contraction of the money supply equal to the amount of the securities sold. B. a multiple expansion of the money supply greater than the amount of the securities sold. C. a multiple contraction of the money supply greater than the amount of the securities sold. D. an expansion of the money supply equal to the amount of the securities sold.