Large productivity increases are most likely to be achieved by
A. emergency room nurses.
B. professional basketball players.
C. symphony orchestras.
D. automobile manufacturers.
Answer: D
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
A firm hires labor up to the point where the
A) real wage rate equals the nominal wage rate. B) real wage rate exceeds the nominal wage rate. C) additional hour of labor produces extra output that equals the real wage rate. D) additional hour of labor produces extra output that equals the nominal wage rate. E) firm can sell the extra output.
Should receiving countries ban all forms of immigration because non-immigrant workers in the receiving country are hurt by immigration? Discuss.
What will be an ideal response?
Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 6th laborer?
A. 11 cabinets B. 9 cabinets C. 7 cabinets D. 36 cabinets