The GDP of country A may be higher than that of country B because the workers in country A work more hours per week than workers in country B
Indicate whether the statement is true or false
True
You might also like to view...
During the recession of 2009, the consumption function temporarily shifted ________ as a fall in house prices ________ wealth and encouraged people to ________ more
A) downward; raised; spend B) downward; raised; save C) upward; lowered; save D) downward; lowered; save E) downward; lowered; spend
Two heavy equipment manufacturers might collude in an effort to do all of the following except one. Which is the exception?
a. determine a more advantageous price and quantity b. prevent new entry into the market c. take advantage of the legal benefits that U.S. cartels receive d. increase their combined profits e. predict the behavior of other competitors in the heavy equipment market with greater certainty
Assume an economy is in equilibrium at a real GDP of $5 trillion. If aggregate expenditure (AE) increases by $1 trillion, the economy's equilibrium real GDP is likely to _____
a. increase by $1 trillion b. increase by more than $1 trillion c. increase by less than $1 trillion d. decrease by $1 trillion e. decrease by more than $1 trillion
More stable macroeconomic policy does not contribute to less variability in real output
a. True b. False Indicate whether the statement is true or false