Labor productivity is measured as total labor-hours divided by total output.
Answer the following statement true (T) or false (F)
False
Labor productivity is measured as total output divided by total labor-hours.
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An increase in disposable income will shift the aggregate demand curve to the right
Indicate whether the statement is true or false
Assume a market that has an equilibrium price of $4. If the market price is set at $8, which of the following is true?
A. Some surplus is transferred from consumers to producers, but total surplus falls. B. All surplus is transferred from consumers to producers, and total surplus stays the same. C. Some surplus is transferred from producers to consumers, but total surplus falls. D. Some surplus is transferred from consumers to producers, causing total surplus to increase.
Choosing to produce at any point within a production possibilities frontier is:
A. inefficient, meaning the society would not be using all its available resources in their best possible uses. B. efficient, meaning the society would be using all its available resources in their best possible uses. C. unobtainable, meaning the society cannot produce that combination of goods. D. efficient but not attainable.
What decade is considered pivotal in the passage of labor reform laws in the United States?
a. 1860s b. 1900s c. 1930s d. 1980s