Workers in Western Europe enjoy a high standard of living because ?

A. the countries of Western Europe have set high minimum wage rates.
B. Unions in Western Europe keep the wage high
C. none of these answers.
D. The countries of Western Europe have protected their industries from foreign corporation
E. Workers in the united states are highly productive

Productivity can be increased by ?

A. improving the education of workers
B. raising union wages.
C. raising minimum wages.
D. restricting trade with foreign countries.

Macroeconomics is the study of ?

A. individual building blocks in the economy
B. the relationship between different sectors on the economy
C. household purchase decisions
D. the economy as a whole

The opportunity cost of a good is______________?

A. the time lost in finding it
B. the quantity of other goods sacrificed to get another unit of that good
C. the expenditure on the good
D. the loss of interest in using savings

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