Residential construction is generally included in which category of GDP?

a. consumption
b. investment
c. government expenditures
d. net exports

b

Economics

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As the wage rate rises, the income effect influences workers to choose ________ leisure, and the substitution effect influences workers to choose ________ leisure

A) more; less B) more; more C) less; less D) less; more

Economics

In the steady state, assuming that a constant share of the population is working,

A) both real GDP per worker and real GDP per capita will grow at the same rate. B) real GDP per worker will grow at a faster rate than real GDP per capita. C) real GDP per capita will grow at a faster rate than real GDP per worker. D) both real GDP per worker and real GDP per capita will remain constant.

Economics