From 1973 to 1995, the growth rate of labor productivity in the United States was approximately
A. ?0.8 percent.
B. 1.4 percent.
C. 2.9 percent.
D. 5.1 percent.
Answer: B
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In the United States, the government coordinates most of the economic activity
Indicate whether the statement is true or false
Because a monopolist must lower its price in order to sell another unit of output,
a. marginal revenue is less than price. b. long-term economic profits will be zero. c. total revenue increases as price increases. d. average revenue is less than price.
Assume Belgium can produce 5 units of good X or 2 units of good Y. Germany can produce 4 units of good X or 3 units of good Y. What would be the terms of trade between Belgium and Germany for 1 unit of good Y?
A. Between 4/3 and 5/2 units of X. B. Between 4/3 and 5 units of X. C. Between 4 and 5 units of X. D. Between 5/2 and 4 units of X.
In the Keynesian-cross model, if government purchases increase by 100, then planned expenditures ______ for any given level of income.
Fill in the blank(s) with the appropriate word(s).