Because workers in the United States work fewer hours per week, on average, than they did over 100 years ago,
A) workers in the United States are worse off than they were over 100 years ago.
B) GDP is lower than it would be if U.S. workers worked the same workweek they had 100 years ago.
C) GDP is higher than it would be if U.S. workers worked the same workweek they had 100 years ago.
D) workers in the United States earn less income than they did over 100 years ago.
B
Economics
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The most common measure of productivity shocks is known as
A) the Solow residual. B) the Lucas supply curve. C) the Prescott productivity parameter. D) the Kydland factor.
Economics
The money supply is $6 million, currency held by the nonbank public is $2 million, and the reserve—deposit ratio is 0.1. The monetary base is equal to
A) $2 million. B) $2.4 million. C) $2.6 million. D) $4 million.
Economics