The most common measure of productivity shocks used by real business cycle theorists is
A) the Solow residual.
B) average labor productivity.
C) the change in the capital stock.
D) unit labor costs.
A
You might also like to view...
Information technologies ________ the demand for low-skilled labor, increase the ________ high-skilled labor, lower the wage rate of ________ labor, and raise the wage rate of ________ labor
A) decrease; demand for; low-skilled; high-skilled B) decrease; supply of; low-skilled; high-skilled C) do not change; supply of; high-skilled; low-skilled D) do not change; demand for; high-skilled; low-skilled
Refer to the figure below. If the supply curve for labor can be written as L = w/2 - 3/2 and the initial wage was $10, how much excess burden is created if there is a tax on wages of $2?
\Suppose the quantity demanded of steak is 200 million pounds per year when the price is $6 per pound and 400 million pounds per year when the price is $2 per pound. The price elasticity of demand for steak over this range is:
a. elastic. b. inelastic. c. unitary elastic. d. perfectly elastic. e. perfectly inelastic.
Suppose that British tastes changed and American goods become more desirable to British citizens. There would be
a. a leftward shift of the supply of pounds curve. b. a movement downward along the supply of pounds curve. c. a movement upward along the supply of pounds curve. d. a rightward shift in the supply of pounds curve. e. a rightward shift in the demand curve for pounds..