In empirical analyses of factors that help explain wages,
a. effort and ability are not likely to contribute to large differences in wages in the U.S. economy.
b. economists typically find that measurable factors explain less than half of the variation in wages.
c. economists typically find few factors that are not explicitly measurable.
d. unmeasurable influences on wage differences are found to be quite small.
b
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Which of the following best represents search costs?
A) Dinesh has to spend time and effort to make sure that the chemical factory is living up to the agreed upon bargain that it will reduce the pollution it is releasing into the local river by 50 percent. B) Laila needs to come up with enough cash to pay the owners of the paper manufacturing plant, its attorneys, accountants, and negotiators so that a bargain can be reached with the paper manufacturer to reduce air pollution. C) Esperanza has to spend time and effort locating and organizing all the other people who have been adversely affected by the strong odors emanating from the local slaughterhouse in order to initiate the bargaining process. D) Rafael has to spend time determining whether the fertilizer manufacturer, the lead smelter, or the oil refinery is the cause of pollution seeping into the groundwater in his local community.
How does deflation affect those with debt?
What will be an ideal response?
Which of the following would be included in a year's GDP?
a. Susan cleans the fuel injectors on her car. b. A private individual purchases 100 shares of IBM stock. c. A timber company purchases land in Oregon. d. A man buys an antique desk from his neighbor. e. A college professor purchases a new computer.
A decrease in long-run aggregate supply increases the value of real GDP at the natural rate of unemployment for all price levels
a. True b. False Indicate whether the statement is true or false