The percentage of hours worked by college educated workers since the 1960s has ________
A) fallen
B) stayed essentially unchanged
C) increased
D) moved in the opposite direction of the college premium
C
Economics
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Use the graph below to explain the determination of equilibrium GDP by the aggregate expenditures-domestic output approach. At equilibrium C + Ig = Real GDP ($550 + $50 = $600). Why does the intersection of the aggregate expenditures schedule and the 45-degree line determine the equilibrium GDP?
Economics
The most desired goods or services that are given up when a choice is made are called the
A. Utility cost. B. Rationing device. C. Opportunity cost. D. Economic profit.
Economics