Each day Sue works 8 hours and produces 7 units of goods and services. Mary works 10 hours each day and produces 10 units of goods and services. It follows that
a. Sue's productivity is higher than Mary's.
b. Mary's productivity is higher than Sue's.
c. Sue's income per hour will be higher than Mary's.
d. Sue's income per day will be higher than Mary's.
b
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Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Consider years 3, 4, and 5. Based on this data, the Phillips curve is ________.
A. downward sloping B. vertical C. of indeterminate slope D. upward sloping
Labor unions ________ increases in the minimum wage because an increase in the minimum wage ________ the demand for union labor
A) support; increases B) support; decreases C) oppose; increases D) oppose; decreases E) support; has no effect on
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Which of the following functions of government gives property owners the incentive to use their property efficiently?
A) making sure that courts are lenient on people who steal private property B) the protection of property rights C) the enforcement of antitrust legislation D) the financing of public goods