Which of the following will NOT shift the MRP curve for labor?
A) a change in the productivity of labor
B) a change in the price of the product being sold
C) a change in the wage rate in the market
D) a change in the demand for the product being produced
C
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How could the existence of an unemployment insurance system or other transfer programs have reduced the severity of the Great Depression?
What will be an ideal response?
GDP is measured in terms of market value because:
a. Actually, GDP is not measured as a market value. GNP measures market values. b. Otherwise, it would be impossible to combine all the heterogeneous goods and services consumed in a nation. c. Otherwise, it would be impossible to combine all the heterogeneous goods and services produced in a nation. d. Otherwise, it would be impossible to combine domestically produced goods and services with foreign goods and services consumed by the public. e. Otherwise, it would be impossible to separate the domestically produced goods and services from foreign goods and services consumed by the public.