Laborers of which sector work in the tertiary or service sector?
(a) Teachers, doctors, lawyers, nanotechnologists, musicians and athletes
(b) Farmers, fisher people and foresters
(c) Manufacturers and processors of raw materials
(d) All of the above
(a)
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Economics studies the logic of choices made from among available possibilities.
Answer the following statement true (T) or false (F)
In the above figure, point B depicts
A) an inflationary gap with real GDP in excess of potential GDP. B) an inflationary gap with real GDP less than potential GDP. C) a recessionary gap with real GDP in excess of potential GDP. D) a recessionary gap with real GDP less than potential GDP.
Which of the following is correct? Gross private domestic investment:
a. Includes government spending when it is for construction that will aid businesses. b. Includes investment spending to replace depreciated machinery. c. Includes stock and bonds. d. Excludes spending for new residential housing. e. All of the above are correct.
The typical age-earnings cycle shows that
A. there is a constant negative relationship between age and earnings. B. there is no relationship between age and earnings. C. there is a positive relationship between age and earnings that eventually turns into a negative relationship. D. there is a negative relationship between age and earnings that eventually turns into a positive relationship.