One consequence of unemployment is that:
A. the time and skills of the unemployed are not being put to use.
B. it can create uncertainty about the future.
C. some productive potential of the economy is being wasted.
D. All of these are consequences of unemployment.
Answer: D
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Purchasing power parity is defined as
A) an equal value of money across currencies. B) a currency whose value rises. C) an equal value of interest rates across currencies. D) a currency whose value falls. E) a constant value for a currency.
The value of the marginal product of labor is given by:
A) the ratio of the marginal product of labor to the wage rate. B) the product of the marginal product of labor and the wage rate. C) the ratio of the marginal product of labor to the price of the final good produced. D) the product of the marginal product of labor and the price of the final good produced.
The horizontal portion of the short-run aggregate supply curve reflects the Keynesian assumption of "sticky" prices
Indicate whether the statement is true or false
Which of the following is included in the investment component of GDP?
a. spending to build new houses b. spending to build new factories c. spending on business equipment such as welding equipment d. All of the above are included in the investment component of GDP.