Compared to the 1960 and 1973 period, average real earnings of workers ________ from 1973 to 1995 and then ________ from 2007 to 2016.
A. grew; grew at about the same rate
B. declined; slowed again
C. grew more rapidly; declined
D. declined; grew
Answer: B
You might also like to view...
The mechanism of supply and demand is
A. a fundamental tool in both microeconomics and macroeconomics. B. the only real “law” of economics. C. a fundamental tool only in microeconomics. D. a fundamental tool only in macroeconomics.
The federal government deficit or surplus
A. is not affected by the level of GDP. B. is not affected by discretionary fiscal policy. C. may be more a symptom of economic distress than a result of intentional fiscal policy. D. should be balanced at all times to prevent business cycles.
Thailand has a comparative advantage in rice and an absolute advantage in both rice and cell phones. Indonesia has a comparative advantage in cell phones. According to this scenario
A. Indonesia should export rice and import cell phones. B. Thailand should export rice and import cell phones. C. Indonesia should import both cell phones and rice. D. Thailand should export both cell phones and rice.
The equation of exchange suggests that if the velocity of money and the quantity of goods and services are held constant, a(n):
A. Decrease in the money supply will increase the price level B. Increase in the money supply will decrease the price level C. Increase in the money supply will increase the price level D. Decrease in the money supply will have no effect on the price level