What is likely to occur when the inflation rate increases, and workers do not receive pay increases?
A. Lower standard of living
B. Higher consumer demand
C. Decreased unemployment
D. Increased spending
A. Lower standard of living
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The increasing cost in the law of increasing cost is a(n) ____________ cost.
A. average B. fixed C. opportunity D. declining
Explanations for the low saving rate in the United States consistent with the life-cycle reason for saving include:
A. well developed financial markets making it easy to borrow against home equity. B. relatively limited government assistance for the elderly and large down payments required for home purchases. C. confidence in future economic prosperity. D. households spending beyond their means to keep up with community standards
Most migrants move from developing to developed nations
Indicate whether the statement is true or false
In the above figure, the production of 25 guitars and 25 ukuleles is
A) efficient production. B) inefficient production. C) impossible production. D) not possible since production always occurs along the PPC.