Which of the following increases labor productivity?
A) decreases in the availability of computers and factory buildings
B) a decline in the health of the population
C) inventions of new machinery, equipment, or software
D) an increase in the aggregate hours of work
C
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To determine whether the goal of stable prices is being achieved, the Federal Reserve monitors
A) the core PCE deflator inflation rate. B) the core GDP deflator inflation rate. C) the GDP price deflator. D) the producer price index. E) the CPI.
Which one of the following is true?
a. Nike has a more inelastic demand curve than shoes b. The demand curve for gas is more elastic in the short-run than in the long-run c. Cigarettes have a more elastic demands than televisions d. Salt has a more inelastic demand than meat
Which term measures production well and indicates when a country is materially better or worse off in terms of jobs and incomes?
a. GDP b. Standard of living c. GDP per capita d. Nominal GDP
Traci is a nurse, and she gets paid an additional $1.00 per hour for agreeing to work the night shift. Carol is also a nurse, but she works the day shift and does not get paid this extra dollar per hour. This difference in pay is an example of a compensating differential
a. True b. False Indicate whether the statement is true or false