Which of the following increases in labor demand is due to a change in the product demand?
A. Access to computers increases the productivity of mail order businesses, thus increasing the demand for their workers
B. Tourism increases in popularity, increasing the demand for workers at tourist resorts
C. A decrease in the price of trucks decreases the cost of transporting goods, thus increasing the demand for truckers
D. A change in work rules increases output per worker in the auto industry, thus increasing the demand for auto workers
B. Tourism increases in popularity, increasing the demand for workers at tourist resorts
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Prior to the 1880s, federal government control over the daily operations of private economic activity
(a) was important but not as important as during the 1880s and following decades. (b) was virtually nonexistent; state and local governments handled any regulation or business management. (c) was important, but in the 1880s and following decades, it became less important as it was realized that regulation was basically inconsistent with the efficient operation of free markets. (d) was virtually nonexistent and did not become important until the Great Depression and New Deal programs of the 1930s.
In the basic model with an AD and LRAS curve only, if spending growth is 10% and the Solow growth rate falls from 5% to 3%, then inflation will:
What will be an ideal response?
What is the most important difference between perfectly competitive markets and monopolistically competitive markets?
What will be an ideal response?
The Great Depression
A) is a very serious recession in U.S. history in which national income fell by 30 percent B) was the most serious recession in U.S. history until the more recent "Great Recession" C) imposed great hardships on households because the unemployment rate reached as high as 10 percent D) all of the above