As the capital-labor ratio increases, real GDP per worker ________, and investment per worker ________
A) increases; decreases
B) decreases; increases
C) increases; increases
D) decreases; decreases
C
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Labor productivity, real GDP per labor hour, increases if
A) saving and investment cause an increase in the quantity of capital per worker. B) there is an increase in the accumulation of human capital. C) new technologies are continuously discovered. D) All of the above answers are correct.
A mixed enterprise is one
A) where the government has significant ownership in a private company. B) in which the company has more than one legal structure, such as limited liability and sole proprietorship. C) that combines for-profit activities with education. D) that has both for-profit and non-profit operations.
Buying a product in one market and selling it in another is called
A) competition. B) arbitrage. C) efficiency. D) comparative advantage.
Congressperson A: "If you approve that new water treatment plant in my district, I'll vote to keep the Air Force base open in your district." Congressperson B: "It's a deal." This is an example of
A) logrolling. B) lobbying. C) median voting. D) logtumbling.