Which of the following is not correct?
a. Countries that have had higher output growth per person have typically done so without higher productivity growth.
b. A country's standard of living and its productivity are closely related.
c. Productivity refers to output produced per hour of work.
d. Increases in productivity can be used to increase output or leisure.
a
You might also like to view...
The employment-to-population ratio is
A) 67 percent. B) 64 percent. C) 50 percent. D) 62 percent.
Potential GDP is defined as
A) the amount of GDP produced if there is no structural unemployment. B) the level of GDP attained when all firms are producing at capacity. C) the maximum of GDP that the economy can produce. D) the amount of GDP produced if there is no frictional unemployment.
Which of the following statements is true?
A. International capital-flow shocks have domestic effects under fixed exchange rates but not under floating exchange rates. B. A domestic monetary shock is less disruptive with floating exchange rates. C. With floating exchange rates, the transmission of business cycles through foreign trade and repercussion is less than with fixed exchange rates. D. If foreign capital is highly responsive to changes in interest rates, then domestic spending shocks are less disruptive with fixed exchange rates.
Refer to the information provided in Table 24.3 below to answer the question(s) that follow.
Table 24.3
Refer to Table 24.3. At an output level of $2,400 billion, there is an unplanned inventory change of
A. negative $200 billion. B. positive $200 billion. C. positive $100 billion. D. zero.