Which of the following statements presents accurate information about antebellum wages for males employed in manufacturing?
a. During the 1850s, real wages doubled.
b. Real wages were higher and grew more rapidly in New England than in the Middle Atlantic states.
c. Wage rates converged in the mid-1800s due to transportation improvements.
d. Wage rates in the 1820s were higher in rural areas than in urban areas.
c. Wage rates converged in the mid-1800s due to transportation improvements.
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The above table gives data for the nation of Mojo. At what level of real GDP is the economy at equilibrium expenditure?
A) $3.0 trillion B) $9.0 trillion C) more than $12.0 trillion. D) $6.0 trillion E) $12.0 trillion
An increase in Swiss prices will cause
A) an increase in the demand for U.S. dollars and an increase in the exchange rate of Swiss francs per dollar. B) a decrease in the demand for U.S. dollars and a decrease in the exchange rate of Swiss francs per dollar. C) an increase in the supply of U.S. dollars and a decrease in the exchange rate of Swiss francs per dollar. D) a decrease in the supply of U.S. dollars and an increase in the exchange rate of Swiss francs per dollar.