The golden age of prosperity for productivity in the United States was from World War II to 1973, when productivity rose at an average rate of _____ per year.
A. 1.4%
B. 5.0%
C. 2.8%
D. 2.1%
Answer: C
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If the consumption of Good A by one person does not decrease the quantity of Good A available for another person's consumption, then the good is said to be
A) nonrival. B) rival. C) nonexcludable. D) excludable.
An equilibrium in which each player chooses its best strategy given the strategies chosen by the other players is called a Nash equilibrium
Indicate whether the statement is true or false
Passive macroeconomic policy would rely on natural market forces and automatic stabilizers to close an expansionary gap
a. True b. False Indicate whether the statement is true or false
Which of the following will not shift the production possibilities curve outward?
a. an improvement in technology, which increases the efficiency of inputs b. the discovery of significant oil reserves in Alaska c. a decrease in capacity utilization of existing factories d. additions to the stock of physical capital