Which of the following is least likely to increase labor productivity?
A. Improved labor skills.
B. Increased managerial capabilities.
C. A safer work environment.
D. Technological advances.
Answer: C
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In periods when GDP fails to grow at its normal rate, the actual unemployment rate will be ________ than the natural rate of unemployment
A) higher B) falling faster C) lower D) the same
During the Great Depression of the 1930s, the aggregate demand curve intersected the aggregate supply curve in the:
a. horizontal portion of the aggregate supply curve. b. upward-sloping part of the aggregate supply curve. c. vertical portion of the aggregate supply curve. d. early years in the horizontal portion, but in the later years in the vertical portion. e. early years in the vertical portion, but in the later years in the horizontal portion.
In the short run in a perfectly competitive industry,
a. each firm's supply curve is horizontal, but the market supply curve is upward sloping b. the marginal cost curve equals the marginal revenue curve c. the market supply curve is upward sloping because each firm's supply curve is upward sloping d. the market demand curve is the sum of each consumer's marginal revenue curve e. each firm earns only a normal profit
If demand increases in a perfectly competitive market, then in the short run supply will:
A. either increase or decrease. B. increase. C. not change. D. decrease.