A rise in the average productivity of labor
a. always reflects technical progress.
b. reflects technical progress if other input usage hasn't changed.
c. reflects technical progress only if labor input hasn't changed.
d. reflects technical progress only if the quantity of output is increased.
b
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Which of the following would be expected to increase the demand for money in the U.S.?
A. Financial investors become concerned about increasing riskiness of stocks. B. The economy enters a recession. C. On-line banking allows customers to transfer funds between checking and stock mutual funds 24 hours a day. D. Political instability decreases dramatically in developing nations.
According to this Application, the incentives described were ________ because they ________ the rate of immunizations
A) not effective; increased B) effective; increased C) not effective; decreased D) effective; decreased
Which of the following is NOT a part of aggregate expenditure?
A) exports B) investment C) imports D) government expenditure E) taxes
In many large American cities it is common to witness private motorists pulling up to municipal bus stations and allowing perfect strangers to ride into downtown with them in order to take advantage of the high occupancy vehicle lanes that require
two or more drivers. Using the concept of elasticity of demand and total revenue explain why public transit authorities might be concerned with this practice.