Labor productivity depends on the
a. the effectiveness of government
b. the availability of technology
c. the proportion of the labor force that is unionized
d. the size of the economy
e. All of the answers are correct
A
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A government subsidy
A) is a policy that can be used to help eliminate the deadweight loss from an external cost. B) can help achieve an efficient amount of output when the good has an external benefit. C) increases consumers' marginal benefit from the good. D) Both answers A and C are correct. E) Both answers B and C are correct.
Voluntary exchange
a. is usually beneficial to one party, but not the other. b. is always beneficial to both parties. c. is occasionally beneficial to both parties. d. occurs only between nations, not between individuals.
The difficulty in analyzing oligopolistic behavior arises from the
a. degree of government regulation of the market structure. b. interdependent nature of oligopolistic decisions. c. large number of firms in the industry. d. market power of consumers.
In the late 1990s, the more than expected increases in tax revenues were the result of
a. rapid economic growth. b. rapid increases in the national debt. c. rising rates of inflation, and therefore, nominal incomes. d. rising balance of trade surpluses and the import duties they generated.