Suppose both wages and employment decrease. These changes most likely were caused by:
A. an increase in the working age population.
B. a decline in business activity in the economy.
C. a decline in immigration.
D. an increase in emigration.
Answer: B
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Considering its effects through income, the price level, and interest rates only, contractionary fiscal policy causes the value of a country's currency to:
A. move unpredictably. B. rise. C. remain unchanged. D. fall.
Answer the question on the basis of the following data. All figures are in billions of dollars. Proprietor's Income 20 Compensation of Employees 300 Consumption of Fixed Capital 15 Gross Investment 80 Rents 10 Interests 20 Exports 30 Imports 50 Corporate Profits 25 Taxes on Production and Imports 5 Net Foreign Factor Income 0 Statistical Discrepancy 0 Refer to the above data. Gross domestic product is:
a) $395. b) $380. c) $375. d) $360.