________ in the United States ________ in most European countries
A) GDP per hour; is greater than GDP per hour
B) Average weekly hours; are greater than average weekly hours
C) The Okun Gap; is equal to the Okun Gap
D) The Lucas Wedge; is greater than the Lucas Wedge
E) Both A and B are true.
E
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The quantity of tickets demanded to the Super Bowl is always greater than the quantity supplied. Which of the following in the best explanation why the National Football League does not raise the price of tickets to the level where the quantity demanded
equals the quantity supplied? A) Raising the price would reduce the demand for tickets; there would then be a surplus and the game would not sell out. B) The cost of raising the price and printing new tickets would exceed the revenue the NFL would receive from higher ticket prices. C) The demand for Super Bowl tickets is elastic; raising the price would reduce total revenue. D) The NFL is concerned that raising ticket prices would be considered unfair.
A decline in the yields earned by bonds should:
A. increase the demand for money. B. also decrease the demand for money. C. not impact the demand for money since money doesn't earn any interest. D. increase the velocity of money.