What is the growth in resources when total factor productivity grows by 3.5 percent and the economy grows by 2.7 percent?
a. 0.8%
b. -2.7%
c. 3.5%
d. -0.8%
e. 0.6%
d
You might also like to view...
The opportunity cost of doing something can be defined as the value of the next-best alternative
Indicate whether the statement is true or false
A decrease in the demand for eggs due to changes in consumer tastes, accompanied by a decrease in the supply of eggs as a result of an outbreak of Avian flu, will result in
A) a decrease in the equilibrium price of eggs and no change in the equilibrium quantity. B) a decrease in the equilibrium price of eggs; the equilibrium quantity may increase or decrease. C) a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease. D) a decrease in the equilibrium quantity of eggs and no change in the equilibrium price.
An increase in financial frictions results in ________
A) an increase in output and inflation B) a rise in the interest rate set by monetary policy C) a decline in the real interest rates faced by households and firms D) a decline in the interest rate set by monetary policy
Comparing the United States to other economies, the United States is one of the ____ economy in the world
a. most government-supervised b. most privatized c. most government-owned d. least privatized