Which statement is FALSE?
A. Our average workweek has declined by more than one third since 1900.
B. Americans work more hours per year than workers in most other industrial nations.
C. The number of paid holidays enjoyed by American workers has increased since the 1950s.
D. American workers get more vacation time than workers in other industrialized nations.
D. American workers get more vacation time than workers in other industrialized nations.
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Since 1929, the distribution of income in the United States has become:
a. substantially more equal. b. slightly more equal. c. slightly more unequal. d. substantially more unequal.
If a firm experiences constant returns to scale at all output levels, then its long-run average total cost curve would
a. slope downward b. be horizontal c. slope upward d. slope downward for low output levels and upward for high output levels e. slope upward for low output levels and downward for high output levels
Over the last few decades, Americans have chosen to cook less at home and eat more at restaurants. This change in behavior, by itself, has
a. reduced measured GDP. b. not affected measured GDP. c. increased measured GDP by the value of the restaurant meals. d. increased measured GDP by the value added by the restaurant's preparation and serving of the meals.
Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase electric cars in great numbers. In the market for gasoline, demand shifts to the ________ and supply shifts to the ________.
A. left, right B. right, left C. right, right D. left, left