Which of the following was not one of the likely causes of the productivity problem in the 1970s?
A. reduced research and development spending
B. a slowdown in investment spending
C. low saving rates
D. a reduction in government regulation
Answer: D
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The market demand curve for loanable funds represents the demand by
a. domestic firms b. domestic firms and domestic households c. domestic firms, households, and governments d. domestic firms and domestic governments e. domestic firms, households, governments, and the rest of the world
Suppose that an economy grows by 4 percent, total factor productivity grows by 3 percent, and the labor force increases by 6 percent. If labor and capital are the only inputs and labor contributes 40 percent to GDP, then the stock of capital must have _____
a. fallen by 5% b. fallen by 3.33% c. fallen by 2.33% d. risen by 3% e. risen by 1.8%
Income security expenditures include
A. Medicare, Social Security, and unemployment compensation. B. Social Security and disability benefits, but not Medicare. C. unemployment compensation, disability benefits, and Medicare, but not Social Security. D. transfer payments to the disadvantaged, but not transfer payments to the elderly.
National income equals gross national product minus
A) imports. B) depreciation. C) inventories. D) changes in inventories.