Suppose that the wage for musicians decreases relative to other occupations. We know that ________ people will work in music, and the total number of hours worked will ________.
A. more; increase
B. more; decrease
C. fewer; increase
D. fewer; decrease
Answer: D
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________ within the U.S. can make loans to foreigners but cannot make loans to domestic residents
A) Edge Act corporations B) International Banking Facilities C) Universal banks D) Euro banks
Commercialization, market growth and factories emerged in rural areas
Indicate whether the statement is true or false
The Keynesian perspective supports that government should play a very active role in managing the economy.
Select whether the statement is true or false. A. True B. False
Real GDP is the product of the
a. total hours of work times the labor force. b. labor force times the output per hour. c. nation's capital stock times the output per hour. d. total hours of work times the output per hour.