The percentage of hours worked by college educated workers since the 1960s has ________
A) fallen
B) stayed essentially unchanged
C) increased
D) moved in the opposite direction of the college premium
C
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A retired worker receives a pension that is not indexed to inflation. Which of the following will happen if the rate of inflation rises?
A) The retiree's purchasing power will fall. B) The shareholders of the firm in which he worked will lose. C) The retiree's purchasing power will increase. D) The retiree will be better off.
The rate at which aggregate supply changes to restore equilibrium at potential output depends crucially on:
a. how quickly planned investment spending adjusts to changes in population growth b. how quickly planned consumption spending adjusts to changes in the price level and nominal wages. c. how quickly technology changes to increase aggregate supply. d. whether the economy is experiencing a recessionary gap or an expansionary gap. e. how quickly real wages adjust to restore full employment in the labor market.
Based on the table demonstrating three tax systems, with these tax rates, which system(s) would bring in the lowest total revenue?
a. progressive
b. proportional
c. regressive
d. both regressive and proportional
If demand increased by 100 units at each price level, and the government set a price ceiling of $40, then there will be
A) A shortage B) A surplus C) No shortage or surplus D) Decrease in supply