Which of the following was the average yearly increase in U.S. labor productivity growth between the 1870s and the early years of the 21st century?
a. About 1 percent
b. About 2 percent
c. About 5 percent
d. About 10 percent
e. Between 0 and 1 percent
b
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The aggregate expenditure in an open economy is defined as:
A) E = C + I + G. B) E = C + I + G + X. C) E = C × I × G × X - M. D) E = C + I + G + X - M.
Which of the following is not a loan of funds?
a. home mortgage b. government bond c. corporate stock d. corporate bond
The main reason that firms adjust their output when the price level changes is that
a. uncertainty causes a drop in output. b. taxes cause a supply-side reaction. c. their profit margins change. d. increased risks lead to a change in output. e. All of the above are correct.
A country's standard of living depends on its ability to produce goods and services
a. True b. False Indicate whether the statement is true or false