Rural families were larger in size, on average, than urban families during the antebellum period. Some argue that the relatively high rate of return on a child born on a farm partly explains why
Children born on farms could be considered investments goods—"goods" used to produce something else. Indicate whether the statement is true or false
True
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Because of a bank merger, Ms. Davis lost her position as Vice President and had to seek work with other banks. Ms. Davis has the skills necessary to find a new job, thus she is best considered as
A) frictionally unemployed. B) cyclically unemployed. C) structurally unemployed. D) naturally unemployed.
U.S. export spending is not affected by U.S. real income but is influenced by the economic activity of its major trading partners and the exchange rate, hence export spending is taken as autonomous
Indicate whether the statement is true or false
Refer to Scenario 17.3. If the fire protection program were not in place, the insurer would not be willing to ensure the warehouse for any amount less than
A) $80. B) $300. C) $3,000. D) $6,000. E) $300,000.
The relative wage coordination argument points out that:
a. workers who are confronted with the possibility of a wage cut will worry about finding themselves worse off—both in absolute terms and relative to other workers who have seen their wages preserved. b. reducing wages for all workers during poor business conditions will cause the best workers with the best employment alternatives at other firms to leave, while the least attractive workers, with fewer employment alternatives, are more likely to stay. c. the productivity of workers will increase if they are paid more, and so employers will often find it worthwhile to pay their employees somewhat more than market conditions might dictate. d. employers will try to keep wages from falling when the economy is weak or the business is having trouble, and employees will not expect huge salary increases when the economy or the business is strong.