New growth theory
A) states that the rate of technological change is caused by economic incentives.
B) states that the rate of technological change is determined outside the working of the market system.
C) states that the rate of technological change is unaffected by economic incentives.
D) does not adequately explain the factors that determine productivity.
A
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One of the determinants of real GDP is output per hour of labor. This statistic is called labor
a. force growth. b. productivity. c. force participation. d. force input.
Equilibrium in the money market exists when the quantity demanded of money equals the quantity supplied of money
Indicate whether the statement is true or false
In response to news reports that taking aspirin daily can reduce an individual's risk of a heart attack, there will most likely be a(n)
A. increase in the demand for aspirin. B. decrease in the supply of aspirin. C. increase in the quantity demanded of aspirin. D. increase in the supply of aspirin.
Refer to Scenario 7.7 below to answer the question(s) that follow. SCENARIO 7.7: A lawn service company has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively. Refer to Scenario 7.7. The marginal product of the fourth worker is
A. 2. B. 3. C. 12. D. 14.