Which of the following is not an example of a compensating differential? Job A pays more than Job B because Job A requires
a. more international travel to dangerous locations.
b. two night shifts per month.
c. careful handling of toxic chemicals.
d. an advanced degree.
d
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The measure of production that values output using base-year prices is called
A) underground GDP. B) nominal GDP. C) real GDP. D) value-added GDP.
"An increase in the price of gasoline will increase the demand for hybrid vehicles." This statement is an example of a positive economic statement
Indicate whether the statement is true or false
In a self-regulating economy, inflationary and recessionary gaps
A) never occur. B) are eliminated by forces internal to the economy, without government intervention. C) are eliminated by timely actions of government policymakers. D) are the desirable results of microeconomic price adjustments.
In a small country, there are 5,000 people in the labor force and 4,000 people are employed. The labor force participation rate equals
A. 40 percent. B. 90 percent. C. 80 percent. D. an undetermined amount given the lack of information.