Refer to the above figure. Which variable is autonomous with respect to real GDP?
A) real consumption spending B) the sum of real consumption and real saving
C) real saving D) real investment spending
D
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Which of the following is an example of a compensating wage differential?
A) Workers in a dynamite mine receive higher wages than if they worked in other jobs that require the same level of skills. B) Nurse anesthetists are paid less than anesthesiologists (who have medical degrees). C) In the market for lawyers, top graduates from the top programs earn starting salaries that are significantly higher than the starting salaries earned by lower-ranked graduates from the lower-ranked programs. D) Popular movie stars like George Clooney command much higher salaries than other talented but lesser-known actors.
Borrowing VCU3 from an online company cause the nation's:
a. M2 money supply to remain the same. b. M2 money supply to rise. c. M2 money multiplier to rise. d. Monetary base to fall.
Economic models are most often composed of diagrams and equations
a. True b. False Indicate whether the statement is true or false
The phenomenon known as the tragedy of the commons occurs whenever:
a. the private sector owns resources and manages them tragically. b. the government owns resources and manages them tragically. c. there is no ownership of resources, so they become depleted due to lack of management. d. two countries own the same resource and cannot agree on its management.