Over the last century, U.S. labor productivity has:
a. fallen
b. been constant, on average.
c. grown at about 2 percent per year.
d. grown at about 8 percent per year.
e. grown at about 15 percent per year.
c
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Consumption spending is $5 million, planned investment spending is $8 million, unplanned investment spending is $2 million, government purchases are $10 million, and net export spending is $2 million. What is aggregate expenditure?
A) $15 million B) $23 million C) $25 million D) $27 million
Consider two straight-line PPFs. They have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the vertical axis
A) is greater along curve I. B) is greater along curve II. C) is the same along both curves. D) cannot be compared for the two curves without more information.
(Consider This) The prisoner's dilemma reveals that:
A. collusive agreements will always fail. B. the price leadership model does not work. C. nonprice competition is more profitable than price competition. D. sometimes when individuals act independently in their own self-interest, everyone is worse off than if they had cooperated.
A demand-pull inflation consists of ________ shifts in the AD curve and ________ shifts in the AS curve
A) right; no B) leftward; leftward C) leftward; rightward D) rightward; leftward E) rightward; rightward