Why do economists care about aggregate expenditures?
What will be an ideal response?
Increases and decreases in aggregate expenditures cause the year-to-year fluctuations in GDP. Economists devote considerable time and energy to forecasting what will happen to each component of aggregate expenditure. If they forecast aggregate expenditures will decline in the future, this is equivalent to saying that GDP will decline and the economy will enter into a recession. This means fewer job opportunities, lower wages, and lower profits.
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In what sense is tariff escalation protectionist? What alternatives exist for remedying this problem?
What will be an ideal response?
Many late 19th century managerial innovations were first developed by
a. the automobile industry. b. the railroads. c. the textile industry. d. the iron and steel industries.
Consider two groups of workers of equal skill level and experience: those who collect garbage and those who stuff envelopes with campaign fliers. Which group is likely to be paid more and why?
If the calculated value of the t statistic is greater than the critical value, the null hypothesis, H0 is rejected in favor of the alternative hypothesis, H1.
Answer the following statement true (T) or false (F)