As the price level falls, real wage ____________and people choose to work ___________
A) rises; more
B) rises; less
C) falls; more
D) falls; less
A
Economics
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If real GDP per person is above the subsistence level then, according to classical growth theory,
A) the population will increase. B) the standard of living will continue to improve. C) the population will decrease. D) labor productivity will increase. E) more technological advances occur.
Economics
Saving is a ________ variable, and wealth is a ________ variable
A) stock; flow B) stock; stock C) flow; flow D) flow; stock
Economics