Productivity per worker has increased in the past primarily through
a. hiring more teenagers.
b. hiring more women.
c. medical benefits.
d. technological development.
d. technological development.
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Deflating refers to
a. discounting a future value into its present value by accounting for the opportunity cost of money b. converting a real value into its associated nominal value c. using the discount rate to correct for environmental benefits or costs accruing in some future time period d. none of the above
Automatic stabilizers are features of the economy that reduces its sensitivity to shocks, such as sharp increases or decreases in spending.
Answer the following statement true (T) or false (F)
The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals:
a. 11 percent b. 14.4 percent. c. 16.8 percent. d. 10.2 percent.
Briefly explain why the SRAS curve is initially horizontal in the Keynesian model.
What will be an ideal response?