Which of the following is true for the period between 1860 and 1910?
(a) The number of people in the labor force increased at a faster pace than the total population.
(b) The workday lengthened.
(c) Real national income decreased.
(d) All of the above.
Question 2
In the Mundell-Fleming model, the exogenous variables are
a. government spending, taxes, and income.
b. the exchange rate and the price level.
c. the price level, the world interest rate, monetary policy, and fiscal policy.
d. the world interest rate, the price level, and the exchange rate.
e. none of the above.
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Embryonic Period