This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assuming the economy is in a recession, Keynesian economists predict that lower wages will shift the ... (Read 81 times)

Chloeellawright

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
Assuming the economy is in a recession, Keynesian economists predict that lower wages will shift the short-run aggregate supply curve rightward.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Explain why GDP was never intended to be a measure of social well being.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

katieost

  • Sr. Member
  • ****
  • Posts: 358
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

GDP is simply a measure of total production. It does not include many things which affect the quality of life. For example, it does not include an adjustment for changes in quality of products, underground economic activity, changes in leisure time, nonmarket transactions, or take into account desirable or undesirable social side-effects associated with production and consumption.


Chloeellawright

  • Member
  • Posts: 588
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

anyusername12131

  • Member
  • Posts: 327
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Pott’s Occurs at the ankle and affects both bones of the lower leg (fibula and tibia) Pott’s Occurs at the ankle and affects both bones of the lower leg (fibula and tibia)
Although Neandertal brain sizes fall well within the modern human range, their EQ is lower than mode Although Neandertal brain sizes fall well within the modern human range, their EQ is lower than mode
Gradient Flow:Upper air moving from areas of higher pressure to areas of lower pressure undergo ... Gradient Flow:Upper air moving from areas of higher pressure to areas of lower pressure undergo ...
Fascial mobilization techniques. (A) Fascial mobilization on the lower back using the palm. (B) ... Fascial mobilization techniques. (A) Fascial mobilization on the lower back using the palm. (B) ...
A Tough Economy ...for students A Tough Economy ...for students
Testing the arterial supply to the lower extremities Testing the arterial supply to the lower extremities
Video: Lipid catabolism - lipolysis and beta oxidation and oxidation of fatty acids

For a complete list of videos, visit our video library