Factors increasing the U.S. labor supply and thereby contributing to the slowdown in real-wage growth that began in the 1970s include ________ and ________.
A. increased labor force participation by women; the coming-of-age of the baby-boom generation
B. technological progress; diminishing returns to labor
C. skill-biased technological change; globalization
D. increasing wage inequality; globalization
Answer: A
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Jamal maximizes utility by allocating his time among leisure, market work, and household work so that
a. expected marginal utility is equal among all three b. expected total utility per hour is equal among all three c. expected marginal utility per hour is equal among all three d. the maximum amount of goods and services can be acquired e. expected total utility of each use is equal
Which of the following would slow down productivity growth?
a. A change in the composition of the workforce so that more middle-aged people and fewer young people are working b. A change in the composition of the workforce so that organizations hire more men who work steadily throughout the year than men who frequently enter and leave the workforce c. The quality of education remaining unchanged d. People starting to invest more in capital goods e. Firms starting to cut down the size of their labor force
Since 2006, our unemployment rate
A. rose. B. fell. C. stayed about the same.
Refer to the information provided in Figure 28.8 below to answer the question(s) that follow.
Figure 28.8Refer to Figure 28.8. Along SRPC3, expected inflation equals
A. 4%. B. 5%. C. 6%. D. cannot be determined from the figure.