Briefly describe changes in life expectancy, average height, and infant mortality in the United States since 1850
What will be an ideal response?
Life expectancy has increased from 38.3 years in 1850 to 79.6 years in 2015. The average height of adult males has increased from 5'7" in 1850 to 5'9.5" in 2015. Infant mortality has dropped from 228.9 per 1,000 live births in 1850 to 6.2 per 1,000 live births in 2015.
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A goldsmith has 100 gold coins in his safe and 100 receipts circulating. How much are his outstanding loans?
What will be an ideal response?
Which of the following is least likely to be considered an input to production?
A) a supervisor's time B) an integrated circuit fabrication plant C) wind D) None of the above.
The income elasticity of demand
A) is positive only.
B) is negative only.
C) must lie between -1 and +1.
D) can be positive, negative, or zero.
The real wage is equal to the:
a. wage measured in terms of the quantity of goods and services it buys
b. wage measured in terms of the dollar value of the goods and services it buys.
c. nominal wage net of taxes paid on wages.
d. non-wage benefits received by workers.
e. product of the nominal wage and the price level.