The most important thing about higher labor productivity is that it means
A. we can achieve a happier population.
B. we can compete well with other nations.
C. we can have a higher standard of living.
D. we are doing better than anyone else is.
Answer: C
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In 2012, which of the following countries had negative net export spending in GDP?
A) Germany B) Hong Kong C) the United States D) China
In the late 1980s, ________ domestic private investment led to ________ in net foreign borrowing
A) higher, an increase B) higher, a decrease C) lower, an increase D) lower, a decrease
If a 10 percent price increase causes the quantity demanded for a good to decrease by 20 percent, demand is elastic
a. True b. False Indicate whether the statement is true or false
When wages rise, the opportunity cost of:
A. leisure rises. B. labor rises. C. labor falls. D. leisure falls.