In general, each additional year of schooling is worth about:
A. 10 percent more in overall earnings over the course of a lifetime.
B. 5 percent more in overall earnings over the course of a lifetime.
C. 25 percent more in overall earnings over the course of a lifetime.
D. 50 percent more in overall earnings over the course of a lifetime.
A. 10 percent more in overall earnings over the course of a lifetime.
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If the aggregate supply curve is vertical, then shifts in aggregate demand will not change aggregate output
a. True b. False Indicate whether the statement is true or false
Which of the following is true?
a. Real GDP is a measure of income, but not output. b. Real GDP is a measure of output, but not income. c. Real GDP is a measure of inflation. d. Growth of output is necessary for the growth of income.
In the open-economy macroeconomic model, the market for loanable funds equates national saving with
a. domestic investment. b. net capital outflow. c. the sum of national consumption and government spending. d. the sum of domestic investment and net capital outflow.
Which of the following is purchased in a factor market?
A. A motorized scooter used for commuting by a student. B. National defense. C. A bag of jellybeans. D. The labor of a state university professor.