About what proportion of the variation of wages across workers is explained by factors that can be measured? What are the other factors that explain wage differences but are difficult to measure?
About half. The other factors include effort, ability, chance, and discrimination.
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
The BP curve is upward sloping if assets are perfectly substitutable
Indicate whether the statement is true or false
Assume that a no-load open-end mutual fund holds securities with a total market value of $20 million, has no liability, and has 250,000 shares outstanding. The net asset value par share of this fund is
A) $5 million. B) $80 million. C) $5. D) $8.
One of the limitations of the national income accounting system is: a. valuing all output at its market price regardless of its contribution to society's economic welfare. b. placing a market value on all negative externalities
c. accurately measuring the value of leisure time. d. double counting food produced on a farm for family consumption. e. ignoring government production of goods and services.