Macroeconomic equilibrium can occur at any point on the 45-degree line
Indicate whether the statement is true or false
TRUE
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In the table above, if the wage rate is $8.00 per hour, the profit-maximizing number of workers is
A) 1. B) 2. C) 4. D) 5.
A minimum wage in the formal sector will likely
a. reduce the number of formal-sector workers b. increase labor supply and lower wages in the informal sector c. encourage rural-urban migration d. lead to increased mechanization in the formal sector e. all of the above
Under the Sarbanes-Oxley Act of 2002, the provision that established the PCAOB to supervise accounting firms is an example of
A) regulate for transparency. B) supervisory oversight. C) separation of functions. D) socialization of information production.
In a two-period model with production, an increase in current domestic total factor productivity
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.