Gordon notes that the average growth rate of labor productivity between 1996 and 2004 was ________ percent, and the average reached ________ percent in 2003-04
A) 3; 3.5
B) 2; 205
C) 1.7; 3.2
D) 2; 1.5
A
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Which of the following is a flow?
A. Assets B. Saving C. Money D. Wealth
If the good in the above figure is a normal good and income rises, then the new equilibrium quantity
A) is less than 300 units. B) is 300 units. C) is more than 300 units. D) could be less than, equal to, or more than 300 units.
U.S. manufacturers formed trusts in the late 1880s because
a. booms in the economy made trusts highly profitable and allowed them to expand b. economies of scale allowed larger firms to prosper c. the rapid growth of the railroads allowed firms to reach a wider market d. technological breakthroughs increased capital use and optimal firm size e. they wanted to avoid price wars during depressions
What does the firm experience when workers are hired after the point at which supply and demand meet?
a. Marginal revenue product rises. b. Marginal productivity increases. c. Variable costs of labor are reduced. d. Additional workers are unprofitable.