Which of the following could lead to a decrease in worker productivity?
a. An increase in the physical capital stock
b. A decrease in the number of workers
c. A war that destroys an enormous amount of plant and equipment
d. An increase in the physical capital stock
e. A decrease in the human capital stock
C
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Consider a production possibility frontier with books and tables. A combination of 1000 books and 500 tables is on the frontier. Which of the following are true?
i. Production of 700 books and 400 tables is attainable but inefficient. ii. Production of 1000 books and 600 tables is unattainable. iii. Production of 500 books and 1000 tables is inside the frontier. A) i, ii and iii B) i only C) i and iii D) ii and iii E) i and ii
According to the BEA, in the second quarter of 2012 state and local government spending on goods and services changed by -1.4 percent. Using the expenditure approach, this change leads to
A) a decrease in government expenditure on goods and services. B) no change in GDP because only federal government expenditures are included in GDP. C) a decrease in gross private domestic investment. D) no change in GDP because state and local government expenditure is always canceled out by federal government expenditure.
The international financial system operated under a gold standard
a. from the 1500s through the present b. from 1879 through the present c. from 1879 to 1914 d. from 1914 to 1939 e. never
If workers become more productive, which of the following would happen in the labor market?
a. Labor supply would increase. b. Labor supply would decrease. c. Labor demand would increase and labor supply would decrease. d. Labor demand would decrease and so would labor supply. e. Labor demand would increase.