Which of the following economic measures is most useful in comparing different economies across the world?
a. Aggregate supply
b. Total unemployment
c. Gross domestic product
d. Net national product
e. Aggregate expenditure
c
Economics
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The quantity of labor demanded is the labor hours all
A) firms plan to hire at a given real wage rate. B) firms plan to hire at a given nominal wage rate. C) employees plan to work at a given real wage rate. D) employees plan to work at a given nominal wage rate. E) Both answers A and C are correct.
Economics
The time consistency problem implies that
A) the central bank should not commit. B) central bank commitment is useful. C) discretion is better than tying your hands. D) there are problems we cannot solve.
Economics