The figure above shows a labor market. If this labor market is perfectly competitive, employment is
A) 0 hours per week.
B) 50 hours per week.
C) 100 hours per week.
D) 150 hours per week.
C
Economics
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Over the past 40 years, real GDP per capita has roughly
a. stayed the same. b. tripled. c. increased by 50 percent. d. doubled. e. declined by 50 percent.
Economics
According to the "misperception effect" explanation of short-run aggregate supply, firms increase output as the price level rises because they mistake the increase in overall prices for an increase in the relative price of their own output
a. True b. False Indicate whether the statement is true or false
Economics