Transfer payments such as Social Security or unemployment compensation are counted in the calculation of GDP.

When the economy enters a recession, your employer is unlikely to reduce your wages because ________ during a recession

A) output and input prices generally fall B) output prices always fall C) output prices generally fall and input prices generally rise D) lower wages increase your incentive to find employment elsewhere.

Which view of the causes of the Great Depression emphasizes that there is little evidence that the economy was suffering from any real shortage of money; the problems, instead, stemmed from a fall of private consumption and investment spending?

(a) The Monetarists' (b) The Keynesians' (c) The Austrians' (d) The International View